Pace Of Foreclosures Slows As Feb. Numbers Spike
The number of completed foreclosures in Massachusetts fell by 19.6 percent in February compared to January but were 10.4 percent greater than a year earlier, according to The Warren Group, a Boston-based real estate tracker.
The number of foreclosures initiated by lenders in February increased by 13.2 percent compared to January, but was down 7.5 percent from last year.
In the first two months of the year, 3,996 petitions to foreclose have been filed by lenders, a 6.1 percent drop compared to the same period a year ago.
The number of auction announcements in February more-than tripled compared to last year and were 16.2 percent more than January.
The Warren Group said that although the number of foreclosures remains high, the pace of foreclosure filings has slowed to about 2,000 per month from about 3,000 per month a year ago.
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