Citing 'human error,' Warren Group says more foreclosures were started in September, not fewer as it first reported

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Citing ‘human error,’ Warren Group says more foreclosures were started in September, not fewer as it first reported

Citing ‘human error,’ Warren Group says more foreclosures were started in September, not fewer as it first reported

Boston Globe-

The Warren Group, a Boston company that tracks local real estate, said Friday that because of ”human error,” it mistakenly reported that fewer foreclosures were begun in September when the number actually rose significantly statewide.

In issuing a correction, Timothy M. Warren, chief executive of the Warren Group, said it’s the only data error the 140-year-old business has made in at least two decades.

According to the revised figures, foreclosure petitions — the first step in the property seizure process — increased to 1,420 in September, 22 percent more than during the same period last year.

In late October, the Warren Group erroneously said foreclosure starts statewide dropped to 973 in September, a 16.4 percent decline from that month in 2011, and the first time this year that the monthly figure had fallen below 1,000. Those numbers were reported by the Globe and other media outlets.

[BOSTON GLOBE]

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One Response to “Citing ‘human error,’ Warren Group says more foreclosures were started in September, not fewer as it first reported”

  1. Joni Brit says:

    Of course there is going to be more, why not? How else is this government going to make money? Buffet started it. When you can get $$3.8 billion dollars for a bunch of foreclosed bankrupt homes what do you expect? Why worry about creating jobs, create foreclosures. Much easier. Just make sure everyone declares bankruptcy before they even think about a modification.
    Then the investor can still put the Applicant through some fraudulent HUD foreclosures and collect through all those federally backed bank programs. They may screw the taxpayer, and of course the applicant’s credit is shot for at least ten years, but the Bank will reap the benefits later through its REIT, when it buys up all those foreclosed Titles…

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