The pace of Massachusetts foreclosure petitions, the first step of the foreclosure process, have begun to slow, The Boston Globe reported March 3, 2010.
In the month of January the number of new petitions dropped to a 12-month low.
According to the Warren Group, a Boston-based real estate market tracking company, the number of foreclosure deeds in the month of January was at the highest level since 2006. A foreclosure deed is typically one of the last steps in the foreclosure process. While deeds from January 2009 to 2010 increased by 8.5 percent, petitions decreased by 9.03 percent compared to December of 2009, and decreased by 4.4 percent from January 2009.