July
2007
Foreclosure Petitions Increase 66 Percent
Amy Wyeth
Banker and Tradesman Online
” Far more Massachusetts homeowners are in jeopardy of losing their properties now than they were a year ago at this time, with Boston hit especially hard.
Statewide, lenders filed 12,945 petitions to foreclose between January and June this year, compared with 7,777 during the same months in 2006, a 66 percent increase, according to The Warren Group, parent company of Banker & Tradesman. Petitions to foreclose, filed at Massachusetts Land Court, are the first formal step taken by lenders in a foreclosure proceeding. “
Suffolk County saw the highest percentage increase in petitions to foreclose on the Massachusetts mainland.
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