Forclosures Down In Mass.

Foreclosures in Massachusetts are down. Petitions — the first step in the foreclosure process — fell more than 51 percent last month compared to a year ago. Deeds — the last step — fell 39 percent during the same period.

Vince Valvo, with real estate publisher The Warren Group, says most of the decline is from lenders halting foreclosures because of robo-signing, which will only drag out the foreclosure process.

"It looks like any given month, cause for celebration, hooray, there are fewer. But it means we're going to be hearing about foreclosures for a much longer time in the future than we would have otherwise," Valvo says.

Valvo says the foreclosure crisis won't really be solved until more people have jobs.

This program aired on November 18, 2010. The audio for this program is not available.


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