Mid-Month Foreclosure Stats

There's a glimmer of good news in June's mid-month foreclosure statistics. Up here in Lowell, in our deeds courthouse, orders of notice - the document that commences the foreclosure process - have been recorded at a rate of 96 per month so far in 2007. During the first two weeks of June, only 39 were recorded which projects to 78 for the entire month. If the early June pace persists, it will represent a significant slow down in the rate of new foreclosure filings.