Mass. Foreclosure Petitions At Lowest 2012 Level
Massachusetts foreclosure petitions, the first step in the foreclosure progress, dropped last month to their lowest level of the year, The Warren Group reported Thursday.
There were 1,254 petitions in June, the group said, a 30 percent drop compared to May.
"I believe that an improving economy, more jobs and an active real estate market are having an impact and giving us a moderating trend in foreclosures," Timothy Warren, the real estate tracking firm's CEO, said in a statement.
The petitions number is a 25 percent increase when compared to figures for June 2011. As we've reported before, foreclosure numbers dropped last year as lenders' practices came under scrutiny, and the process has picked back up this year following a mortgage abuse settlement.
Completed foreclosures also dropped almost 24 percent in June, compared to the same month last year. As The Warren Group said: "This is the first time since September 2011 that deeds posted a year-over-year decrease."
This program aired on July 19, 2012. The audio for this program is not available.