Foreclosures in Massachusetts rose more than 70 percent in November from the same time last year, a real estate tracker reported today.
A total of 714 foreclosure deeds were recorded last month, up from 418 deeds in November 2010. However, year-to-date foreclosure deeds are down, said The Warren Group of Boston.
A total of 7,685 foreclosure deeds have been completed this year, down nearly 35 percent from 11,752 deeds recorded during the same period last year.
"An increase in foreclosure deeds tells us that the backlog of foreclosures is moving through the process," Timothy M. Warren Jr., CEO of The Warren Group, said in a statement. "The modest decline in petitions could indicate that an improving employment picture is leading to fewer mortgage delinquencies."
Last month, lenders filed 1,015 petitions to foreclose -- the first step in the foreclosure process -- an 8 percent decline from 1,109 a year earlier.
This is the second consecutive month that year-over-year foreclosure deeds have risen. November also marked the fifth straight month foreclosure petitions have stayed above 1,000. Last month's petitions filed number is the fewest since June, when there were 990 petitions filed.
