Bay State Foreclosure Deeds, Petitions Decline In October (Banker & Tradesman) - November 18, 2010

For the first time this year, both year-over-year foreclosure petitions and deeds decreased in Massachusetts, according to The Warren Group, publisher of Banker & Tradesman.

Foreclosure petitions - the first step in the foreclosure process in Massachusetts - dropped to 1,127 in October, a near 51 percent decrease from 2,296 in October 2009. This is the first month since January that foreclosure petitions have dropped below 2,000. A total of 22,091 foreclosure petitions have been filed so far this year, compared to 23,931 for the same period last year.

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