Number of MA Foreclosure Deeds Recorded Rises Year-to-Year

The number of foreclosure deeds recorded in Massachusetts dipped in November compared to October but jumped 38% from the same month last year, according to The Warren Group. In addition, foreclosure petitions have dropped significantly from earlier this year. A total of 880 foreclosure deeds were filed in November, down 11.6% from 996 in October and 37.9% higher than the 638 foreclosure deeds recorded in November 2007. November is the third consecutive month that the number of foreclosure deeds has been under 1,000. Year-to-date foreclosure deeds have shot up 64.8% to 11,486 from 6,970 during the first 11 months of 2007. "Some lenders are working harder to pursue loan modifications, but unfortunately, even with these modifications, many homeowners still face an uphill battle to hold onto their homes," said Timothy Warren Jr., CEO of The Warren Group. Fewer petitions to foreclose were filed by lenders in November. Foreclosure petitions fell 50.9% to 1,335 compared to 2,721 a year earlier and were 31.8% lower than October's 2,065 petitions. A total of 20,179 foreclosure petitions have been filed from January through November, down 24.8% from 26,848 during the same months in 2007. There were 1,134 auction announcements in November, a 27.9% increase from 887 a year earlier. Year-to-date auction announcements have jumped 34.2% to 18,064 from 13,465.