March 31, 2011
Mass. Foreclosures Drop Again
Massachusetts foreclosures fell 44 percent in February, with 515 completed last month compared with 917 in February 2010, according to the Boston-based Warren Group.
Foreclosure petitions, the first step in the foreclosure process, fell by an even steeper 67 percent over the same period, from 2,122 to 694.
The Warren Group said the numbers reflect lenders moving more slowly on foreclosures, but it said delinquencies on mortgage payments remain high. It said fairly high levels of foreclosures are likely to continue until home values rise again.
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