Massachusetts foreclosures at year-low in November

November marked the lowest month of foreclosure activity of the year in Massachusetts, according to new data from local real estate firm The Warren Group.

The number of foreclosure deeds sent out declined by almost 40 percent in November compared to the same time last year. Falling to 416 deeds, the company reported that it is the lowest number of monthly foreclosures in the state since February 2007.

Furthermore, petitions, which are the first step in the foreclosure process fell 43 percent to 1,109, a recent improvement since that number only dropped under 2,000 in September.

"With federal and state governments taking an even closer look at how banks are going about the foreclosure process, I suspect that petitions to foreclose will remain at low levels,'' said chief executive Timothy M. Warren, Jr.

The Bay state may be a good option for those looking to pack up and relocate to an area where they are unlikely to lose money on their home investment. Earlier this month, The Warren Group announced that while Massachusetts home sales fell slightly in November, its median home value actually increased. 

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