Foreclosures fall in January in Mass., but climb in Bristol County

FORECLOSURE PETITIONS fell 2.7 percent in January to 899 from 924 in January 2016, a report from The Warren Group, publisher of Banker & Tradesman, said Tuesday. / BLOOMBERG FILE PHOTO/JEFF KOWALSKY
FORECLOSURE PETITIONS fell 2.7 percent in January to 899 from 924 in January 2016, a report from The Warren Group, publisher of Banker & Tradesman, said Tuesday. / BLOOMBERG FILE PHOTO/JEFF KOWALSKY

BOSTON – Foreclosure petitions in Massachusetts fell 2.7 percent in January to 899 from 924 in January 2016, a report from The Warren Group, publisher of Banker & Tradesman, said Tuesday.
January marked the fifth month in a row of year-over-year decreases in petition filings. Petitions are the first entry in the public record in the foreclosure process, in which lenders file a notice of intention to foreclose with the Land Court.
Timothy Warren, CEO of The Warren Group, said petitions to foreclose are continuing to decline.
“The clogged pipeline of delinquent mortgages is clearing up now,” Warren said in a statement.
However, petitions rose 4.2 percent in Bristol County in January to 100.
Statewide, there were 739 foreclosure auctions scheduled in January, a decrease of 0.8 percent from January 2016, when there were 745 auctions scheduled. Auctions are scheduled through legal advertising in local newspapers with the lender giving the time, date and address of the auction.
Auctions climbed 11.1 percent in Bristol County in January to 90.
There were 503 foreclosure deeds recorded statewide in January, a 44.5 percent increase from the 348 recorded in January 2016. Deeds represent completed foreclosures.
Bristol County followed statewide trends regarding deeds, jumping 175 percent to 66 for the month.

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