Foreclosures dip in Mass., Bristol County in December

THE WARREN GROUP said Bristol County had a 33.8 percent decrease in petitions in December, to 90 from 136 in December 2015, and a 4.1 percent increase in auctions, to 76 from 73. Deeds also increased 65.9 percent, to 68 from 41. / COURTESY THE WARREN GROUP
THE WARREN GROUP said Bristol County had a 33.8 percent decrease in petitions in December, to 90 from 136 in December 2015, and a 4.1 percent increase in auctions, to 76 from 73. Deeds also increased 65.9 percent, to 68 from 41. / COURTESY THE WARREN GROUP

BOSTON – Foreclosure petitions in the Bay State decreased by nearly 30 percent in December compared with December 2015, The Warren Group, publisher of Banker & Tradesman, said Tuesday.

Massachusetts lenders filed 866 petitions to foreclose in December, compared with 1,236 filed in December 2015. Year to date, 12,276 petitions were filed, 3 percent more than last year’s mark through December of 11,916.

In Bristol County, petitions fell 33.8 percent in December, to 90 from 136 in December 2015, and fell 12.6 percent in 2016, to 223 from 198 in 2015.

Petitions mark the first step in the foreclosure process, when lenders file notice of their intention to foreclose with the Commonwealth’s Land Court.

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“Foreclosure starts are finally on the decline,” Timothy Warren, CEO of The Warren Group, said in a statement. “After more than two years of steady and alarming increases, we now see double-digit percentage decreases in each of the past four months.”

A total of 582 auction notices were filed statewide in December, a 2.8 percent increase from 566 filed in December 2015. In 2016, 8,582 auctions were scheduled, a 24.5 percent increase from 6,894 in 2015.

The number of auction notices also increased 4.1 percent in Bristol County, to 76 in December from 73 in December 2015. Year to date, auction notices in Bristol County increased 8.5 percent, to 1,052 from 970 in 2015.

There were 471 foreclosure deeds filed in Massachusetts in December, a 0.2 percent increase from 470 deeds filed in December 2015. Year to date, 6,169 deeds were recorded in Massachusetts, a 40.2 percent increase from 4,400 filed through December 2015. Deeds represent completed foreclosures, when lenders record a new deed at the Registry of Deeds indicating there has been a change in the ownership of the foreclosed property.

Bristol County saw a significant increase in the number of deeds filed in December at nearly 66 percent, to 68 from 41; it also had a 57.3 percent increase in deeds filed in 2016 compared with 2015, 782 from 497.

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