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On the basis of a recent data published by a Boston based real estate data agency, The Warren Group, it has been seen that the rate of completed and new foreclosure cases was stable in Wrentham in the last month. According to this data, there were only two foreclosure petitions filed in Wrentham in the last month to initiate the foreclosure of two properties, and this rate is exactly similar to the number seen in the month of February 2011.
The total number of foreclosure deeds and completions remained nil this February, similar to a year earlier.
However, amidst of all these steady rates, this state has experienced a significant increase in the total number of petitions that were issued this February. In comparison to February 2011, this year in the same month the rate of issued foreclosure default notices moved up to 1,394, which is nearly double the number seen in 2011 when there was only 694 petitions in that month.
The rate of foreclosure deeds also increased by 41% from 521 in the month of February 2011; this rate has increased to 736 in the same month this year.
In this context the CEO of the agency, Timothy Warren Jr. stated that this sudden increase in the rate of foreclosure deeds and petitions is an outcome of the previous year’s slow pace of foreclosure processing by lenders due to various legislative activities. He added, “The large year-over-year increase doesn’t necessarily indicate another wave of foreclosures. Foreclosure activity was nearly frozen a year ago, and now it’s beginning to thaw again.”
The foreclosure data of February 2012 in different areas of this region is given below:
- Foreclosure petitions were fixed at zero and with one petition last year; this year there was no foreclosure petition in Dover.
- On a year over year basis, there was an increase in petitions in Easton with 2 in 2011 and 9 in 2012 whereas foreclosure deeds remained nil in either year.
- There have been four foreclosure petitions filed in Foxborough in 2012 whereas there was only one petition last year with deeds steady at 2.
- Foreclosure petitions increased to 3 from 2 in Mansfield but deeds remained nil in both the years.
- Without any deeds, another foreclosure petition was added to make it two petitions in Medfield.
- With one foreclosure petition, the rate of foreclosure deeds increased to two from zero in Norfolk.
- With a decrease in deeds, the petition number increased to 6 in Norton this year.
- In Norwood, the foreclosure petitions increased to four from three whereas deeds moved down to zero from half a dozen.
- With a 75% decrease in petitions, Plainville had zero deeds.
- Both the rate of foreclosure deeds and petitions increased in Sharon.
- With a decrease in foreclosure deeds, Stoughton experienced an increase in petitions.
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