Local foreclosure activity dropped in December | Chappaqua Real Estate

-

 

 

There were 265 foreclosure deeds recorded in Massachusetts during December, a 65 percent decrease from the number recorded in the same month a year ago, the Warren Group said Monday.

Foreclosure deeds represent completed foreclosures. The first step in the foreclosure process is a foreclosure petition.

In December, 835 foreclosure petitions were started in Massachusetts, down 17 percent on a year-to-year basis, said the Warren Group, a Boston firm that tracks real estate activity.

For all of 2012, the number of completed foreclosures in Massachusetts dropped by nearly 13 percent to 7,424, the Warren Group said in a press release.

Timothy M. Warren Jr. Photo taken from the Warren Group’s website.

But the number of foreclosure petitions started in the Bay State increased by more than 35 percent to 17,152. In 2011, there was a big drop in petitions as lenders slowed the process as their procedures came under scrutiny.

“Foreclosure activity nationwide is declining, and Massachusetts is following the same path,” Warren Group chief executive Timothy M. Warren Jr. said in a statement. “Deeds were down for the year, petitions declined for the past two months, and I think that will continue.”

Timothy Warren added: “Foreclosures have been trending down for several years now. A robust real estate market will ensure that this trend continues in 2013.”


via boston.com

 

Comments

Post a Comment

Popular posts from this blog

Four Regional Banks Discuss Settlement Over Foreclosures | Waccabuc Real Estate

-
Image
U.S. state attorneys general are pressing four banks to accept a legal settlement over botched foreclosures similar to a deal reached with larger competitors this year, according to three people briefed on the matter. U.S. Bancorp (SFBC) , PNC Financial Services Group (PNC) Inc., SunTrust Banks Inc. (STI) and HSBC Holdings Plc (HSBA) have held talks with state and federal officials who investigated claims that loan servicers mishandled foreclosure documents, according to the people, who spoke on condition of anonymity because the talks are private. U.S. Bancorp Said to Join PNC in Talks on Mortgage Settlement Jeff Kowalsky/Bloomberg Mortgage servicers typically handle billing and collections, as well as foreclosures when borrowers fail to pay. Neil Brazil , a spokesman for HSBC’s North America unit, said in an e-mail that the London-based lender has conducted “preliminary discussions with its bank regulators and other
Read more

Top 20 real estate websites in June | Mount Kisco Real Estate

-
Last year, Realtor.com and Yahoo Real Estate battled it out for the top position in the monthly real estate website rankings maintained by Web metrics firm Experian Hitwise . So far this year, Zillow has been king of the hill, having bumped Yahoo Real Estate from the top spot in March. Jockeying for the spots below first place has also been fierce, with Trulia jumping two positions into second place on the Hitwise list in June. Trulia leapfrogged over third-place Realtor.com, bumping Yahoo Real Estate into third place in the process. AOL Real Estate, meanwhile, moved up two positions from May to June, but there were no new websites in the top 10. The Hitwise rankings don't tally mobile app users, an increasingly popular option among consumers conducting listing searches. But they still provide a window into who's winning the battle for eyeballs -- an important consideration for brokers and agents in deciding where to spend their marketing dollars. According to Hitwise, t
Read more