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Foreclosure data shows mixed results for Malden

Posted by Jarret Bencks  January 29, 2013 09:55 AM

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Completed foreclosures fell in Malden last year -- though not as significantly as they did statewide -- and the first step in the foreclosure process was taken more often in 2012 than 2011, according to recently released data.

A total of 67 foreclosure deeds were filed in Malden last year, down from 72 in 2011, while foreclosure petitions -- the first step a bank takes in the foreclosure process -- rose nearly 15 percent from 108 to 124, according to data from real estate publisher The Warren Group.

Statewide trends were similar, though more pronounced. Foreclosure petitions rose 35 percent in Massachusetts, from 12,634 in 2011 to 17,152 in 2012, and foreclosure completions fell 13 percent, from 8,531 to 7,424.

Town-by-town results can be found here

In a written statement, Timothy M. Warren Jr., CEO of The Warren Group, said he believed there will be reduced foreclosure activity in 2013. Warren attributed the rise in foreclosure petitions to measures taken in 2011 to slow foreclosures, which lead to a jump in petitions in early 2012. 

"Foreclosure activity nationwide is declining, and Massachusetts is following the same path," he said. "Deeds were down for the year, petitions declined for the past two months and I think that will continue."

Jarret Bencks can be reached at bencks.globe@gmail.com. Follow him on twitter @JarretBencks.

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