The number of foreclosures in Massachusetts jumped 10.4 percent in February, compared to a year ago, according to a report yesterday from the Warren Group.
Lenders completed foreclosures on 917 homes, compared to 831 in February 2009.
Meanwhile, foreclosure petitions - the first step in the foreclosure process - totaled 2,122 in February, down by 7.5 percent compared to a year ago.
Foreclosure petitions have averaged about 2,100 per month in the past half-year, said Warren Group CEO Timothy Warren.
“That’s a pretty high level, but the pace is much lower than it was in the early part of 2008, when lenders were filing an average of 3,000 petitions to foreclose a month.”
In another sign of more bad news ahead, the number of auction announcements in February more than tripled compared to a year ago. There were 2,771 auction notices in February, up from 917 in February 2009, according to the Warren Group’s report.
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