First Half Foreclosures Down As Petitions Mount
The number of foreclosures in Massachusetts fell by 29 percent during the first half of 2009 compared to the first six months of 2008, according to Boston-based real estate tracker The Warren Group.
Nevertheless, petitions to foreclose, the first step in the foreclosure process, saw a 5.6 percent increase during the first half of the year. In June, foreclosures decreased by 45 percent to 621. In June 2008, 1,131 foreclosure deeds were filed.
Still, the June total was a 6.7 percent increase from the 582 foreclosure deeds filed in May.
Lenders filed 13,813 petitions to foreclose during the first six months of the year, a 5.6 percent increase over the same period last year. Lenders filed 2,835 petitions in June, an eightfold increase from the 350 petitions filed in June 2008.
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