Warren: Mass. foreclosures shot up 34% in July

[0:08] ..." mounting. The Warren group issued its report in July sales revealing that foreclosure deeds jumped 34% in July compared to the same time last year. I spoke with Tim Warren of the war group about"...

[0:22] ..." Michelle that foreclosure activity in Massachusetts is still high levels. Not quite as high as has been -- earlier in the year that still very"...

[0:36] ..." We do. In the area. We called foreclosure deeds that's when it. D.s actually recorded at the registry of deeds because it was so sold at auction. Off from the winter that takes it back the option. These deeds this"...

[1:39] ..." Hand they say seem not to be initiating any of the national foreclosure process until. That the days. Now the the ones that of the first people the qualified for that were. Began on May"...

[2:30] ..." ones that the hardest hit. Neighborhoods abolished. Difference -- me and Lawrence. Brockton. Those kinds. Older cities that. Have been hardest it. What strict it is also -- and one thing yeah. Leaders -- in foreclosure activity. So it I think that we're probably going to continue to see those -- as the most prevalent. In the foreclosure activity. More affluent communities. Some of them are are doing fairly well in terms of their numbers sales and median prices. So I don't think those well we'll see -- foreclosure. Material because they think they have the opportunity. To perhaps find a buyer that he can pay as much as the outstanding"...

[0:00]" This is Anthony silver in the double BBC newsroom either go home selling prices rebounded insomnia boards across the state foreclosures are still mounting. The Warren group issued its report in July sales revealing that foreclosure deeds jumped 34% in July compared to the same time last year. I spoke with Tim Warren of the war group about those numbers."

[0:22]" Michelle that foreclosure activity in Massachusetts is still high levels. Not quite as high as has been -- earlier in the year that still very high historically speaking."

[0:36]" We do. In the area. We called foreclosure deeds that's when it. D.s actually recorded at the registry of deeds because it was so sold at auction. Off from the winter that takes it back the option. These deeds this year this month but needed July. -- 1097. And that's somewhat less than what -- back in April they peaked around thirteen forty war. And then in -- actual Pete was poured to five. So it's dropped off a little bit from from that period but it's still -- last year at this time."

[1:20]" If we keep that in the petitions to -- close -- was and -- provision for a ninety day right to cure. Opportunities for people and lenders are interpreting two they would be sending out noticed. Too there are worse -- in ninety days to correct the problem. Hand they say seem not to be initiating any of the national foreclosure process until. That the days. Now the the ones that of the first people the qualified for that were. Began on May first so. We -- in the in the coming months and -- petitions to -- clothes start to pick up again -- that you're. How many people were able to solve their problems in those -- we are."

[2:24]" Yes. That that's true those and the ones that are for. Perhaps less affluent ones that the hardest hit. Neighborhoods abolished. Difference -- me and Lawrence. Brockton. Those kinds. Older cities that. Have been hardest it. What strict it is also -- and one thing yeah. Leaders -- in foreclosure activity. So it I think that we're probably going to continue to see those -- as the most prevalent. In the foreclosure activity. More affluent communities. Some of them are are doing fairly well in terms of their numbers sales and median prices. So I don't think those well we'll see -- foreclosure. Material because they think they have the opportunity. To perhaps find a buyer that he can pay as much as the outstanding balance on the mortgage."