Mass. foreclosure petitions up sharply in May
Foreclosure petitions in the Bay State rose over 50 percent in May over petitions recorded in May 2014, according to a new report from The Warren Group, marking the 15th straight month of increases in petition filings.
Lenders filed 878 petitions to foreclose in May compared with 573 filings during the same month last year – a 53 percent increase. Foreclosures are also much higher for the year so far, compared with the first five months of 2014. A total of 4,430 petitions were filed from January through May of 2015, compared with 2,776 petitions filed from January through May of 2014. Petitions mark the first step in the foreclosure process.
In Worcester County, petitions were up 45 percent in May (139 petitions) compared with May 2014 (96 petitions), The Warren Group reported. In Middlesex County, petitions were up 63 percent in May (130 petitions) compared with May 2014 (80 petitions).
"It is frustrating to see the continued rise in foreclosure activity across the Bay State," Cassidy Murphy, editorial director of The Warren Group, said. "Lenders continue to wade through a large volume of delinquent mortgages that have been in the process for quite some time."
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