BOSTON – The number of foreclosures in Massachusetts increased 8.5 percent in January compared with a year earlier, The Warren Group reported Tuesday.
The real estate tracking firm said lenders foreclosed on 1,061 homes in the Bay State in January, up from 978 at the same time last year.
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However, the number of foreclosure petitions – the first step in the foreclosure process – fell by 4.4 percent to 1,874, down from 1,960 in 2009.
“Foreclosure activity, as measured by petitions to foreclose, has started to moderate, with the lowest level of petitions since December 2008,” Warren Group CEO Timothy M. Warren Jr. said. “The federal loan modification program was slow to make a dent in foreclosure activity but recently lenders have accelerated their efforts.”
But the number of auction notices soared 82 percent to 2,385 in January, up from 1,314 a year earlier. The number of auctions was also 23 percent higher than the 1,931 auction announcements The Warren Group reported in December.
Foreclosure auction notices in Bristol County, Mass., climbed to 260 from 147, a 77 percent increase. Petitions increased to 178 from 162, while foreclosure deeds rose to 97 from 91.
The Warren Group Inc. is a provider of New England real estate data and the publisher of Banker & Tradesman and other journals. Additional information is available at TheWarrenGroup.com.
