Foreclosure announcements still rising
Advertisements for foreclosure auctions continued to rise in June.
There were 1,322 such announcements of sales of foreclosed homes in newspapers across Massachusetts in June, up from 719 in June 2006.
For the year through June, foreclosures are nearly three times higher than last year: 7,539 so far this year, up from 2,797 in the first six months of 2006, according to The Warren Group, a Boston publishing and real estate firm that tracks the market.
Not all auctions proceed to a sale, because the lender and homeowner may resolve the matter within days or hours of a scheduled property auction.
"Petitions to foreclose and auction announcements are still rising at staggering rates," said Timothy Warren Jr., chief executive.
"Nearly every county in the state is being hit hard by this trend," he said.
Foreclosure filings by lenders, the initial notice of a potential home seizure, also increased in June, to 2,309 from 1,327 a year earlier. Petitions so far this year have totaled 12,945, Warren Group reported.
(By Kimberly Blanton, Globe staff)
