From Banker & Tradesman
Fewer Bay State properties were foreclosed on in February compared to the prior month and a year earlier, according to a new report from The Warren Group, publisher of Banker & Tradesman. But the number of foreclosures initiated by lenders has climbed for four consecutive months.
A total of 823 foreclosure deeds were recorded in February, a 4.3 percent decline from 860 foreclosure deeds in February 2008. February foreclosure deeds were also 16 percent lower than January when there were 980 deeds recorded. Still, foreclosure deeds jumped 8.6 percent during the first two months of 2009 to 1,803 from 1,660 a year earlier.
Lenders filed 2,295 petitions to foreclose in February, a 17 percent jump from 1,960 petitions in January.…