December 30, 2009
Report Shows Foreclosures Down But Not Out
By Shaun Tolson
A new report by The Warren Group shows that the number of foreclosures initiated in the state in November fell below 2,000 for the first time since January, but that doesn't mean the real estate industry is out of the woods just yet.
The report showed that lenders filed 1,937 petitions to foreclose in November, which was down 15.6 percent from the 2,296 petitions filed in October.
The Boston-based real estate tracking company said that petitions to foreclose, which is the first step of the foreclosure process, were still "relatively high" and were 45 percent higher than November 2008.
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