Advertisement
Home About Us Contact Us Magazine Subscribe
Welcome to DSNews.com—delivering stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry. Tue May 22, 2012
Investors Lenders & Servicers Service Providers Attorneys & Title Companies Agents & Brokers

Massachusetts Foreclosure Petitions, Deeds Drop in November

According to the Boston-based research firm the Warren Group, both year-over-year foreclosure petitions and deeds decreased in November by double-digit percentages in Massachusetts for the second consecutive month. In addition, foreclosure activity in the state reached its lowest levels in 2010.

Lenders filed 1,109 petitions to foreclose in November, a nearly 43 percent drop from November 2009 and a 1.6 percent decrease from October. It was the fewest number of petitions filed so far this year.

“I predicted last month that Massachusetts was likely to see a continuing decrease in foreclose starts due to delays caused by robo-signing and banks temporarily suspending foreclosure activity,” said Timothy M. Warren Jr., CEO of the Warren Group. “With federal and state governments taking an even closer look at how banks are going about the foreclosure process, I suspect that petitions to foreclose will remain at low levels.”

Foreclosure deeds were down more than 40 percent with 416 deeds recorded in November. Foreclosure deeds also dropped from a month ago when 557 were completed. However, year-to-date foreclosure deeds are up 40 percent.

Auction announcements tracked by the Warren Group also fell in November – a near 7 percent drop. But year-to-date auction announcements are up more than 60 percent.


Author: Heather Hill Cernoch Date: 01/04/2011 Tags: Foreclosure, Robo-Signers, The Warren Group Category: Foreclosure, Market Studies Users: Agents & Brokers, Attorneys & Title Companies, Lenders & Servicers

Friend's Name


Friend's Email*


Your Name


Your Email*


Security Code


Enter security code*

Message



Recent News
Advertisement

Advertisement

Sign up for daily e-mail updates.


Do you have a news tip, story idea, or suggestion for DSNews.com or DS News magazine?

Simply e-mail editor@dsnews.com.

Whether you choose to tell us a little about yourself or prefer anonymity, we appreciate your contribution!


Advertisement
About Us

Since its launch, DS News magazine has positioned itself at the forefront of an evolving industry. Always current with the most up-to-date default servicing news, DSNews.com keeps you informed through daily Web casts, community forums, and a wide range of industry resources.

Home About Us Contact Us Magazine Subscribe