Foreclosures Dropped 65% in May in Massachusetts

The number of foreclosure deeds filed in Massachusetts fell 65% in May from a year ago, The Warren Group said Thursday.

While the real estate research firm noted declines of more than 60% in both foreclosure deeds — the final stage of the process — and in foreclosure petitions, it is still unclear what impact delayed foreclosures are having on the overall real estate market.

“Lenders are continuing to be cautious with the legal process, which is causing a drop off in foreclosure starts and deeds,” said Vincent Valvo, group publisher and editor-in-chief of Banker & Tradesman.

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