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Tuesday, November 24, 2009

Foreclosure is rising in Bay area

In October 2009, there was an increase in foreclosed properties in Massachusetts by 30 percent. Petitions for foreclosure fell 9 percent from September but were 11 percent higher than October 2008, according to Warren Group.

Since Jan 1, foreclosure petitions have risen 27 percent statewide while foreclosure deed has dropped 27 percent. In Norfolk County, foreclosure petitions rose 24 percent in October while deeds fell 10 percent.

Quincy had 19 foreclosure petitions, a 5 percent decrease and eight foreclosure deeds, up from five the previous year.

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