April 14, 2011
Mass. Foreclosures Plummet
Massachusetts foreclosure filings were down 61.8 percent in the first quarter of the year compared to the same period last year, a much steeper drop than the national average of 27 percent, according to real estate data firm RealtyTrac.
The firm said the national numbers were at their lowest point since the first quarter of 2008, something it attributed mainly to processing delays.
In Massachusetts, 5,008 homes received a foreclosure filing - either a default notice, a scheduled auction or a bank repossession - during the quarter. That represents one of every 549 housing units, much less than the national rate of one in 191 homes.
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