Report: Foreclosure activity down sharply in Mass.
BOSTON (AP) — A new report finds that foreclosure activity continues to fall significantly in Massachusetts.
The Warren Group said Tuesday that foreclosure petitions, the first step in the foreclosure process, fell 84 percent in June compared to the same month a year ago. The 245 petitions recorded in June were the lowest since the group began compiling the statistics in 2006.
The number of foreclosure deeds, representing a completed foreclosure, fell 56 percent in June compared to the same month last year.
Timothy Warren, chief executive of the Warren Group, says fewer homeowners are finding themselves hopelessly underwater on their mortgages.
Over the first six months of the year, the report said there were 2,943 petitions to foreclose filed in Massachusetts, compared to 9,425 during the same six-month period in 2012.