ECONOMIC INDICATORS

Foreclosure starts rise, completions fall in Bristol County, Mass. in Nov.

BLOOMBERG FILE PHOTO/JACON KEPLER
FORECLOSURE STARTS rose in Bristol County, Mass. in November as the number of completed foreclosure in the month dropped 35 percent.
Posted 1/2/13

BOSTON – Bristol County, Mass. foreclosure starts rose 6 percent in November while finished foreclosures dropped 35 percent compared with the same period in 2011, The Warren Group said Wednesday.

The real estate tracking firm reported 117 Bristol County foreclosure petitions (the first step in the foreclosure process) filed in November, down from 110 in November 2011.

The number of foreclosure deeds filed in November, marking completed repossessions by lenders, dropped to 28 compared with 43 deeds filed in November 2011.

Statewide, Massachusetts foreclosure starts dropped 3 percent year over year while finished foreclosures plummeted 60 percent in November.

“It's been quite a positive year for the local housing market,” said The Warren Group CEO Timothy Warren Jr. “We're beginning to see a brighter picture - with less foreclosures and more home sales. An improving employment picture combined with government-backed programs are leading to fewer mortgage delinquencies.”

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