Skip to main content

Massive Increase in Massachusetts Foreclosure Petitions and Deeds

Sep 03, 2015
Boston State House/Credit: mtcurado

Foreclosure petitions in Massachusetts experienced a 49 percent year-over-year increase in July, according to data released by The Warren Group. July was the 17th consecutive month that Massachusetts experienced a spike in petition filings.

Lenders in the Bay State filed 1,044 petitions to foreclose in July; last year, 702 petitions were filed. In the first seven months of this year, 6,360 petitions to foreclose were filed in Massachusetts, up 60 percent from the same period last year.

Furthermore, 386 foreclosure deeds were filed in July, a 77 percent rise from the 218 filed in July 2014. In the first seven months of this year, 2,416 deeds were filed in Massachusetts, up 27 percent from the 1,897 filed in the same period last year.

“Foreclosures continue to climb after a few years of very low activity as lenders catch up with regulatory changes,” said Cassidy Murphy, editorial director at The Warren Group. “While these numbers are higher relative to last year, the steady increase does not yet represent a cause for alarm.”

About the author
Sep 03, 2015
Broker Action Coalition Unveils Inaugural Board Of Directors

Newly formed nonprofit organization BAC announces industry professionals to guide its mission of legislative change and educational initiatives in the mortgage industry.

Feb 21, 2024
GSEs Report Strong Earnings

Robust performance marks growth for both Fannie Mae and Freddie Mac, despite a dip in home purchases.

Feb 15, 2024
Friendly Competition Joins Forces

The merger aims to enhance local fulfillment and sales support, marking Guild’s sixth acquisition since 2021 and expanding its licensed originators to over 2,100 amidst a challenging market.

Feb 14, 2024
Guild Mortgage Announces Acquisition Of Competitor Academy Mortgage, Bolsters National Presence

The strategic move will see Guild Mortgage enhance its market share and become the 8th largest non-bank retail lender in the U.S., welcoming over 600 loan officers from Academy.

Feb 13, 2024
Proprietary Capital-Led Group Acquires Multichannel Lender AFR

Colorado-based fund manager Proprietary Capital finalizes acquisition of American Financial Resources.

Feb 13, 2024
Are Trigger Leads Harmful? Prove it

Trade associations claim trigger leads are dangerous to consumers.

Feb 08, 2024