February 21, 2008
January Home Foreclosures More Than Double
By Cory Hopkins
The 799 foreclosure deeds filed in Massachusetts last month represented a 128 percent increase compared to January 2007, according to The Warren Group , Boston-based publisher of Banker & Tradesman.
The nearly 800 deeds filed last month marks the highest number of deeds filed in a single month since August 2007, when 1,018 foreclosure deeds were filed, according to The Warren Group. There were 350 deeds filed in January 2007.
Along with formal foreclosure deeds, the number of auction announcements in January also rose, from 1,008 in January 2007 to 1,792 last month, a 77.8 percent increase. Last month's number of auction announcements is the highest number recorded by The Warren Group since they began tracking the stat in 2005.
Completing the trifecta of depressing foreclosure data, the number of petitions to foreclose filed in December, the last month for which data is available, rose 28 percent, to 2,729. There were 2,133 petitions filed in December 2006. Petitions to foreclose are the first step in the foreclosure process, and do not always end in actual foreclosure.
The nearly 800 deeds filed last month marks the highest number of deeds filed in a single month since August 2007, when 1,018 foreclosure deeds were filed, according to The Warren Group. There were 350 deeds filed in January 2007.
Along with formal foreclosure deeds, the number of auction announcements in January also rose, from 1,008 in January 2007 to 1,792 last month, a 77.8 percent increase. Last month's number of auction announcements is the highest number recorded by The Warren Group since they began tracking the stat in 2005.
Completing the trifecta of depressing foreclosure data, the number of petitions to foreclose filed in December, the last month for which data is available, rose 28 percent, to 2,729. There were 2,133 petitions filed in December 2006. Petitions to foreclose are the first step in the foreclosure process, and do not always end in actual foreclosure.
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