Home foreclosure figures remain grim
Foreclosures continue to rise rapidly in Essex and Middlesex counties, where the total number of filings in February grew as much as 50 percent over the same month in 2007, according to new data released by The Warren Group, a Boston-based publisher of real estate data.
There were 413 notices to foreclose filed in February in Essex County, compared with 274 in February 2007. A total of 114 foreclosure deeds - which are recorded after a home is sold at auction - were recorded in February, compared with 43 in February 2007, or a 165 percent increase, according to the data.
In Middlesex County, foreclosure petitions increased 27.5 percent, to 472 in February, compared with 370 in February 2007. Meanwhile, there were 116 foreclosure deeds recorded for the month, compared with 54 in February 2007, data show.
Lynn continues to lead the region in both foreclosure filings and deeds. February filings jumped to 102, from 44 in February 2007, while deeds more than tripled to 33, compared with 9 last February, the data show.
In Everett, the increase in petitions was more moderate, increasing to 35 this February, compared with 25 in February 2007. But 11 foreclosure deeds were recorded in the month, compared with just one deed in February of last year. Haverhill's foreclosure petitions grew to 44 in February, from 29 last year, while foreclosure deeds doubled to 14 for the month, compared with 7 in February, 2007, stastics show.
Statewide, foreclosure petitions rose 27 percent, to 2,835 in February, compared with the prior year. Foreclosure deeds rose 145.7 percent, to 860 properties, from 350 in February 2007, The Warren Group reported. Multifamily homes, a staple of the housing stock in urban centers affected most by the subprime mortgage crisis, were among the hardest hit. Twenty-three percent of the total number of petitions filed were for one- and two-family homes, the data show.
"This issue is certainly affecting owners of all types of properties,"said Tim Warren, president of The Warren Group, in a statement. "It's obvious the human impact of foreclosures extends beyond homeowners."
The community bank made healthy gains in 2007. Assets hit $567 million, total loans grew to $404.9 million, and total deposits to $376.9 million, the bank reported at its annual meeting.
The bank and its charitable foundation also donated $833,000 to 170 nonprofits and community organizations in Greater Newburyport. The bank also opened its fifth branch last year, at 40 Friend St. in Amesbury. Another branch now is being built on Main Street in Amesbury, which is due to open in June, the bank said.
The power plant, where three workers died last fall in a steam explosion, is donating the use of a pickup truck.
"We have a laundry list of what needs to be done," said Jamie O'Hara, a SHARE organizer. "The more people we have, the more we'll get done."
Volunteers will clear brush, pull weeds, and trim trees. Branches and limbs will be chipped into mulch to be spread around the site. The cleanup day will run from 8 a.m. to 2 p.m.
Pioneer Village, which sits on 11 acres, is a reproduction of Salem in 1630. Thatched-roof cottages, a blacksmith shop, and a saw pit are among the early Colonial dwellings on the site. The site, which opened in 1930, long was a popular tourist spot. In recent years, Pioneer Village has weathered hard times.
A lack of funding and resources has prevented it from being open regularly. Extensive repairs are needed on its buildings and grounds. SHARE hopes to get the place ready for summer. For information, contact O'Hara at 978-979-7533
Kathy McCabe can be reached at kmccabe@globe.com.
