Mass. Foreclosures Down Again
Massachusetts foreclosures fell year-over-year in September, the 12th month in a row that they've dropped, according to Boston-based real estate tracking firm The Warren Group.
Foreclosure petitions, the first step in the foreclosure process, fell 51 percent to 1,164, while completed foreclosures dropped 17 percent to 737.
Despite the decline compared to last year, The Warren Group said foreclosures have been picking up since the start of 2011 as banks became more aggressive in moving against borrowers who are behind on their payments. In the third quarter of the year, 4,002 petitions were filed, up from 2,535 in the first quarter and 2,880 in the second.
The Warren Group and other observers had attributed the drop in foreclosures earlier in the year to lenders slowing their foreclosure processes after coming under fire for hasty seizures of homes.
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