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Malden foreclosure procedures rise, against state trends

Posted by Jarret Bencks  January 3, 2013 07:56 AM

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Foreclosure procedures began on 13 Malden properties in November, more than triple the number of such actions in November 2011, according to recently released real estate data.

Year-to-date, foreclosure petitions -- the first step taken by a bank in the foreclosure process -- were up nearly 20 percent in Malden through November to 120, compared to 101 in the same span in 2011, according  The Warren Group, which tracks real estate data statewide.

The trends in Malden go against statewide figures, which show a slight drop in petitions from 1,015 through November 2011 to 983 through November 2012.

Foreclosure deeds -- the last step in selling a foreclosed property -- were down slightly in Malden year-to-date through November, from 67 to 65. But statewide numbers shows a more drastic plunge -- from 731 in the first 11 months of 2011 to 295 in the same span in 2012.

For town-by-town stats, click here

"We're beginning to see a brighter picture - with less foreclosures and more home sales," Timothy Warren Jr., CEO of The Warren Group, said in a statement. "An improving employment picture combined with government-backed programs are leading to fewer mortgage delinquencies."

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

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