April 22, 2010
Steep Increases In March Foreclosure Activity
By Matthew L. Brown
Twenty-two percent more Massachusetts homeowners faced the prospect of foreclosure in March than in February.
And the number of completed foreclosures jumped by 51.4 percent during the same time. Compared to March of last year, the number of foreclosures completed last month was up 45 percent to 1,389, according to The Warren Group, a Boston-based real estate tracker.
That's the greatest number of completed foreclosures for any month since May 2008.
Lenders filed 2,581 petitions to foreclose during the month, a 21.6 percent increase from February and an 8 percent increase from March 2009.
The number of auction announcements also more-than doubled to 2,903 between March 2009 and last month.
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