Mass. foreclosures fall

BOSTON – Following a statewide trend, foreclosure petitions, auction notices and deeds fell in Bristol County, Mass., in July compared with the same month last year, The Warren Group said last week.
The real estate tracking firm said lenders filed 143 foreclosure petitions – the first step in the foreclosure process – in the county in July, down 41 percent from the 245 petitions in July 2010. Auction notices fell 19 percent to 168 from 208 while completed foreclosures dropped 55 percent to 54 from 121.
Across the commonwealth, petitions declined by 38 percent, auction notices by 26 percent and completed foreclosures by 38 percent. Still, The Warren Group said that July marked the most foreclosure starts since September, when there were 2,358 petitions filed.
“The foreclosure process is showing signs of acceleration. For the past two months, foreclosure petitions have markedly increased which proves that lenders are beginning to act more swiftly,” said Cory S. Hopkins, managing editor of the group’s Banker & Tradesman newspaper. “Despite the drop in foreclosures from a year ago, homeowners are still struggling. A weakened housing market and poor economy does not bode well for consumer confidence.”