Worcester County foreclosures drop 7%
The Warren Group
Foreclosure petitions had been on the rise in Massachusetts.
Worcester County fared better than the state as a whole for new foreclosure filings in March, with the region dropping 7 percent compared to a 6-percent increase for the entire state.
Even though foreclosure petitions continued to climb in March, Boston real estate data firm The Warren Group said March represented a slowing down in a concerning swing that has been taking place for the past 24 months.
The organization said for the past 24 months, initial foreclosure filings rose by double- or triple-digit increases. but March marks the first time in two years starts rose by a single-digit percentage.
Massachusetts lenders filed 1,179 petitions to foreclose in March this year, compared with 1,108 filed in March of last year. There have been 3,367 petitions filed year to date in Massachusetts, a 29.8-percent increase from last year’s mark through March of 2,594. Petitions are the first step towards foreclosure.
Worcester County is up 21 percent for the year to 584 petitions. Middlesex County saw an 8-percent decrease in petition filings for March although they are up 27 percent for the year to 447 petitions.
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