lowrate.com

The first half of 2010 brought much volatility and a lot of mixed signals to Massachusetts’ foreclosure picture.

One thing is clear – overall, more families will lose their homes this year compared to 2009, according to real estate experts with the Warren Group. While banks submitted fewer foreclosure petitions in June from a year ago, more homes will complete the foreclosure process by the end of the year than did in 2009. Lenders started 2,200 new foreclosures in June, a 21.7 percent year-over-year drop, but 5.2 percent more than May’s figures, said the report.

"Foreclosures which were initiated a year ago are now being completed, and the figures are staggering. We are on pace to exceed the peak foreclosure level seen in 2008 when more than 12,000 homeowners statewide lost their homes to foreclosure," said CEO Thomas Warren. About 1,313 foreclosures were completed in June, a 109.1 percent increase from June 2009 and 1.4 percent higher than May. To date, 2010 has brought 56.7 percent more foreclosures than were recorded in the first half of 2009, said the report.

Nationally, foreclosure filings are expected to exceed 3 million, according to financial website RealtyTrac.com.