Bay State Foreclosure Petitions Drop In January (Banker & Tradesman) - March 2, 2010

The number of foreclosures started by lenders in Massachusetts during the month of January dropped to the lowest level in more than a year, according to a new report by The Warren Group, publisher of Banker & Tradesman.

Lenders filed 1,874 petitions to foreclose - which mark the first step in the foreclosure process in Massachusetts - in January, a 9 percent decrease from 2,060 in December and 4.4 percent drop from a year earlier. Foreclosure petitions exceeded 2,000 for most months in 2009, falling below that number only in January and November.

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