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June 21, 2013
The number of Massachusetts homeowners facing foreclosure plummeted to its lowest point last month since the 2005 real estate market collapse, signaling what some are calling the end of the foreclosure crisis. Statewide, 248 foreclosure petitions were filed in May, down 86 percent from the 1,779 filed at the same time last year, according to The Warren Group. ?This supports our argument that the foreclosure crisis is behind us,? said Timothy M. Warren Jr., CEO of The Warren Group, which publishes Banker & Tradesman.
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