RealtyTrac: Mass. Foreclosures Rise In July

Massachusetts foreclosure filings were up 19 percent in July, compared to the same month last year, according to new figures from RealtyTrac’s national report.

There were 2,615 foreclosure filings in Massachusetts last month, the firm said. Foreclosure starts rose 65 percent, compared to July 2011.

Analysts blame the rise on artificially low numbers last year due to processing delays.

"In the short term, this means that there's gonna be more foreclosures for sale on the market," said RealtyTrac Vice President Daren Blomquist, "which maybe is good news for some folks, but probably bad news for home prices, because these foreclosures typically sell at a discounted price."

Compared to June 2012, Massachusetts' foreclosure filings dropped 3 percent last month, and foreclosure starts increased 16 percent.

This article was originally published on August 09, 2012.

This program aired on August 9, 2012. The audio for this program is not available.


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