The number of foreclosure petitions in Massachusetts rose in November, rising 150% from 257 in 2013 to 643 in 2014, according to a new report from the Boston Business Journal.
From the Boston Business Journal report:
Timothy M. Warren Jr., CEO of The Warren Group, said the jump in activity was expected given the backlog of delinquent mortgages.
"The good news is that November foreclosure starts are down significantly from the 965 we saw in October," Warren said.
In fact, the 643 petitions filed in November actually mark the lowest rate since June.
In total, Massachusetts lenders have filed more than 7,000 foreclosure starts through November of this year, which marks a 42% increase over last year.