From the Warren Group press release:

Foreclosure activity in Massachusetts dropped significantly during the month of March, according to the latest report by The Warren Group, publisher of Banker & Tradesman. The number of foreclosures initiated by lenders plummeted almost 60 percent from a year earlier.

Lenders filed 1,048 petitions to foreclose in March, a 59.4 percent decrease from 2,581 in March 2010. A total of 2,535 petitions to foreclose have been filed in Massachusetts during the first quarter, a 61.5 percent decrease from 6,577 in the first quarter of last year. Petitions to foreclose represent the first step in the foreclosure process in Massachusetts.

“Another month of declining foreclosures is a sign that lenders have adopted a ‘go-slow’ approach to foreclosures,” said The Warren Group CEO Timothy M. Warren Jr. “We haven’t seen a drastic improvement in the housing market to signal the foreclosure crisis is over. There are likely more foreclosures in the pipeline, which will come to the surface in coming months.”

Comments

comments

Call Now