Foreclosure petition activity in Massachusetts climbed by 72.5 percent in July compared to a year ago, according to the latest report from The Warren Group.
The big question: Why does this happen amidst a rebounding economy and a rather robust housing market recovery? Here’s why:
“‘It is important to note that foreclosures are up year-over-year but down compared with the year-over-year increase posted in June 2014,” said Cassidy Murphy, editorial director of The Warren Group. “2013 was an unusual year in the foreclosure world as foreclosure procedures and legislation underwent revisions. Now that most of that has been settled, lenders are more comfortable moving forward with foreclosures from a legal standpoint.’”
Question answered (sort of).
Fyi: Here’s some recently listed foreclosures in Massachusetts.
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Updated: December 31, 2017 New Year’s Eve