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Foreclosure Petitions and Deeds are Down

Karen Anne
 


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Recently, a report has been published by the real estate data firm, The Warren Group which keeps track on the different foreclosure activities that are going on across the nation.

In October 2010, only one petition of foreclosure was filed for Sharon town, but this year in the same month, not a single petition was filed for the area. However, the data in that report revealed that although the number of fresh petitions was nil, foreclosure activity has moved up to one, which was also nil the previous year.

The figures in the report reflect a clear picture of the foreclosure activities that are going on across the state. In Massachusetts, the number of petitions increased by 5.9% in October, which were 1,193 in October 2010 and stood at 1,127 in October 2011. The number of activities in the region moved up to 756 from 557 homes showing a 35.7% increase.

CEO of The Warren Group, Timothy Warren said that the increase in the number of foreclosure deeds with a minimum number of petitions can be a precursor to the end of this foreclosure crisis.

He said, “A rise in foreclosures is troubling for distressed homeowners, but in this case, it's a positive signal that the backlog of foreclosures on the banks’ books is working through the system. The real estate market cannot fully recover until foreclosures have been dealt with one way or another. ”

The statistical report of October, 2010 and October, 2011 of the foreclosures in different towns of the area is mentioned below.

* There were no foreclosure petitions in Dover, neither in October of 2010 or 2011 but there were three foreclosure deeds in both of these years.

* In Easton, the picture is totally opposite as the number of petitions increased to 6 from 2 whereas the number of deeds stood at nil from 5 homes last year.

* Foreclosure petitions and deeds both increased in Foxborough from 2 to 4 and from 0 to 2 respectively in the last month.

* Mansfield’ petitions moved up to 8, which stood at 3 homes last year and one deed came up which was nil earlier.

* Both deeds and petitions in Medfield remained nil in the last month.

* Similarly, deeds and petitions in Norfolk also remained fixed at one.

* In Norton, deeds increased to 2 from 1 while petitions dropped to 2 from 5.

* The number of petitions in Norwood increased to 5 from 2 whereas deeds dropped to 2 which stood at 3 homes earlier.

Karen Anne, has been working on ForeclosureWarehouse.com studying the foreclosures market, helping buyers on the finer points of foreclosures for sale . Try to visit ForeclosureWarehouse.com and search foreclosed homes .

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