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Hope Mixed With Caution On The Foreclosure Front

By Mary Blake, WBZ NewsRadio 1030
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Massachusetts is experiencing a downward trend in foreclosures linked to the  improving job market and recovery of the housing market. (credit: AP)

Massachusetts is experiencing a downward trend in foreclosures linked to the improving job market and recovery of the housing market. (credit: AP)

420x316-grad-blake1 Mary Blake
Mary Blake is an award-winning reporter and anchor who joined WBZ News...
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BOSTON (CBS) — Massachusetts foreclosure figures for the month of March are down. Tim Warren, Chief Executive Officer of the Warren Group in Boston, says foreclosures dropped nearly 60 percent last month when compared to March of 2010.

Specifically, there were 1,048 petitions to foreclose in March. That is down from 2,581 in March of 2010.

Warren, however, is also sounding a cautionary tone. He says the numbers most likely reflect a ‘go-slow’ approach on the part of the banks, and not a housing market rebound. In fact, the number of foreclosure petitions filed this March is up by 354 when compared to the previous month of February.

WBZ NewsRadio 1030′s Mary Blake reports.


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