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Hope Mixed With Caution On The Foreclosure Front

BOSTON (CBS) -- Massachusetts foreclosure figures for the month of March are down. Tim Warren, Chief Executive Officer of the Warren Group in Boston, says foreclosures dropped nearly 60 percent last month when compared to March of 2010.

Specifically, there were 1,048 petitions to foreclose in March. That is down from 2,581 in March of 2010.

Warren, however, is also sounding a cautionary tone. He says the numbers most likely reflect a 'go-slow' approach on the part of the banks, and not a housing market rebound. In fact, the number of foreclosure petitions filed this March is up by 354 when compared to the previous month of February.

WBZ NewsRadio 1030's Mary Blake reports.

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