October 21, 2010
Lenders Initiate Fewer Foreclosures, But Complete More
By Matthew L. Brown
The number of foreclosures initiated by lenders in September declined 6.7 percent from the same month a year ago and 23 percent from August, according to Boston-based real estate tracker The Warren Group.
Lenders filed 2,358 petitions to foreclose last month compared to 2,527 a year ago. In the first nine months of the year, 20,964 petitions to foreclose have been filed, down 3.1 percent from the 21,635 filed over the same period a year earlier.
However, the number of completed foreclosures increased in September for the ninth consecutive month. A total of 890 foreclosure deeds were filed, a 26.6 percent increase from last year.
September was the first month since February in which foreclosure deed filings fell below 1,000.
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