Mixed Numbers For Mass. Foreclosures

This article is more than 9 years old.

There are mixed foreclosures numbers Wednesday in Massachusetts.

The Warren Group, a realty tracking firm, says completed foreclosures are up by 70 percent. But foreclosure petitions, the first part of the process, are down 8 percent.

Vincent Valvo, editor of the Warren Group's Banker and Tradesman, says this is a good sign for the new year.

"Total number of petitions down for the year means that once we go into 2012, we're going to see fewer actual houses taken in foreclosure," he said.

Valvo says the large jump in completed foreclosures shows lenders are gaining momentum on a backlog of paperwork.

"That is a whopping number, obviously, but it reflects the notion that we've had an awful lot of slowdown in the foreclosure process for most of the year."

A total of 7,685 foreclosure deeds have been completed this year — down 35 percent from the 11,752 deeds recorded this same time last year.

This program aired on December 28, 2011. The audio for this program is not available.