Worcester Co. foreclosures drop 39%

Courtesy of The Warren Group Timothy Warren, Jr., president and CEO of The Warren Group.

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By Emily Micucci

Worcester County saw foreclosure petitions decrease by 39.1 percent in June vs. June 2016 amid a statewide decrease of 18.3 percent, The Warren Group reported Tuesday.

Through June, Massachusetts foreclosure petitions dropped 12.6 percent over 2016 numbers.

Worcester County’s decrease is the second largest in the state, after a 43.8-percent decrease in Suffolk County foreclosure petitions. Essex County also made large strides in reducing foreclosure petitions with the rate falling 38.1 percent in June. Middlesex County saw a 27.8-percent decline in petitions.

A drop in foreclosure petitions, the first step toward foreclosure, is driven by a surging housing market, according to Timothy Warren, CEO of The Warren Group.

“June saw its first year-over-year decrease in petitions since 2013, as the backlog of old delinquencies dissipates,” Warren said in a statement. “Surging prices in the state’s housing market have helped to keep new foreclosure starts at bay, since homeowners unable to pay their mortgage have more leeway if they’re forced to sell.”

The number of June foreclosure deeds recorded in Worcester County, which represent completed foreclosures, declined by 28.6 percent, but foreclosure auctions increased 33.3 percent, growing from 30 to 40.