Foreclosure filings continue to rise
Mortgage foreclosure filings rose 92.1 percent in February, the Warren Group reported today.
The Warren Group of Boston, which publishes Banker & Tradesman, also said advertisements for foreclosure auctions increased 199 percent in February.
Mortgage lenders filed 2,242 foreclosure petitions in Massachusetts Land Court in February, compared with 1,167 in February 2006, the Warren Group said.
"The downturn in the housing market continues to hit homeowners, making it hard for those who have borrowed large percentages of the worth of their homes to make mortgage payments," chief executive Timothy Warren Jr. said in a statement.
Foreclose filings are the first step in the foreclosure process. Some homeowners sell or refinance their homes before actual foreclosure can take place.
(By Chris Reidy, Globe staff)
Mortgage lenders filed for 2,242 foreclosures in Massachusetts last month.
