Warren Group: Foreclosure petitions rise again in June in Mass.

BRISTOL COUNTY followed statewide trends in June as it reported increases in foreclosure petitions, auctions and deeds that were filed in June, according to The Warren Group. / COURTESY THE WARREN GROUP
BRISTOL COUNTY followed statewide trends in June as it reported increases in foreclosure petitions, auctions and deeds that were filed in June, according to The Warren Group. / COURTESY THE WARREN GROUP

BOSTON – Foreclosure petitions increased again in Massachusetts in June, rising 13.1 percent compared with June 2015, The Warren Group said this week.
The Warren Group said the latest data marks the 28th consecutive month of year-over-year increases in foreclosure starts.
Lenders filed 1,002 petitions to foreclose in June, compared with 886 filed in June of last year. Year to date, there have been 6,616 petitions filed, a 24.4 percent increase from last year’s 5,316 over the six-month period.
Petitions mark the first step in the foreclosure process, when lenders file notice of their intention to foreclose with the Commonwealth’s Land Court.
“Foreclosure starts continued to climb in the first two quarters of 2016, but the rate of increase has slowed,” Timothy Warren Jr., CEO of The Warren Group, said in a statement. “Lenders continue to work through a backlog of delinquent mortgages and get foreclosure proceedings started on the most difficult cases. The higher volume of starts that we have been seeing over the past two years is likely to continue for the balance of the year.”
There were 887 auction notices filed in June, a 67.4 percent increase from the 530 filed last year. Year to date, there have been 4,648 auctions in Massachusetts, a 45.8 percent increase from the year-ago period when there were 3,187.
An auction notice is a legal advertisement that the lender has scheduled an auction and publicly announced the time, date and address in local newspapers.
Foreclosure deeds rose nearly 16 percent in June, to 470, compared with 406 deeds filed in June 2015. A total of 2,872 deeds have been recorded in Massachusetts in 2016, a 41.5 percent increase from the 2,030 filed through June last year. Deeds represent completed foreclosures.
Bristol County again mirrored statewide trends, posting increases in June and year to date in petitions, auctions and deeds filed compared with the respective prior-year periods.
Petitions rose 2.8 percent in June, to 110, and grew 20 percent year to date, to 708.
Auctions increased 53.9 percent, to 117, and rose 20.8 percent year to date, to 564. Deeds climbed 15.7 percent, to 59, and jumped nearly 41 percent year to date, to 314.

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