Warren Group: 900 foreclosures in Mass. in August

BOSTON – More than 900 foreclosures were completed in Massachusetts in August – the highest monthly level recorded so far this year, according to real estate tracking firm The Warren Group.
A total of 937 foreclosure deeds were recorded in August. June recorded the second highest amount at 931.
Despite the relatively high number, year-over-year foreclosure deeds dropped more than 22 percent from 1,207 in August 2010. A total of 5,465 foreclosure deeds have been filed so in 2011, representing a nearly 45 percent decrease compared to 9,887 deeds recorded during the same period last year, said The Warren Group, which publishes Banker & Tradesman.
“We’re seeing completed foreclosures hover around the 1,000 mark – a sign that lenders are beginning to work through the backlog and finalize the foreclosure process,” said Banker & Tradesman Managing Editor Cory S. Hopkins. “Foreclosures have been delayed by robo-signing and other documentation problems. This could certainly mean a glut of foreclosed homes will be pushed through the pipeline in coming months and years.”
Year-over-year petitions were down in August, dropping to 1,397 – a nearly 53 percent decline from 2,961 in August 2010. This is the second consecutive month petitions have exceeded 1,000 – and the fourth month so far this year.
A total of 8,253 foreclosure petitions have been initiated so far this year, down 56 percent from 18,606 petitions filed the same period last year.