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Malden foreclosures up in face of statewide decline

Posted by Matt Byrne  September 19, 2012 09:19 AM

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Bucking a statewide trend of declining foreclosures, lenders petitioned to foreclose on double the number of homes in July than in the same period last year.

According to The Warren Group, which tracks real estate transactions throughout the state, 16 homes went under foreclosure, compared to eight last July.

The number of foreclosures initiated also was up through July, from 59 in 2011, to 73 this year.

For town-by-town stats, click here.

Statewide, lenders filed 1,198 petitions for foreclosure in July, the lowest monthly level recorded so far this year.

"It appears there is a downward trend in foreclosure activity," said The Warren Group CEO Timothy M. Warren Jr. in a statement. "A strong economy and recovering housing market is helping lift consumer confidence. This news paired with banks' return to standard foreclosure processes is also helping."

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