Mass. foreclosures plunged in January

Foreclosure deeds in Massachusetts fell sharply in January to their lowest level in six months, but foreclosure petitions, which launch the process of taking over properties whose owners have failed to keep up with mortgage payments, increased, according to The Warren Group.

The Boston-based real estate research firm said deeds fell more than 27 percent in January, but lenders filed 618 petitions, up 70 percent from 364 petitions filed in January 2014.

And there could be more, according to Timothy M. Warren Jr., CEO of The Warren Group. "What is happening in Massachusetts with increased foreclosure activity is happening nationwide, as lenders continue to wade through a backlog of delinquent mortgages that have yet to be addressed,” he said in a statement. "We will continue to see petitions increase as long-time delinquent mortgages continue to be processed.”

Figures for Worcester and Middlesex counties mirrored the statewide trends. In Worcester County, deeds fell 18 percent from January 2014 while petitions jumped 82 percent and auctions 258 percent.

In Middlesex County, deeds plunged 84 percent (only 8 deeds were processed) while the number of petitions rose 44 percent and auctions soared 400 percent, from 15 to 75.

Meanwhile, the number of auction announcements tracked by The Warren Group jumped 250 percent in January, with 575 announcements compared with 165 in January 2014. That marked the highest percentage increase since April 2007, when announcements climbed almost 340 percent year over year.