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Foreclosures down sharply in Malden

Posted by Jarret Bencks  May 13, 2013 03:30 PM

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Malden has continued to see a sharp drop in foreclosures through the first quarter of this year, according to recently released real estate data.

There was only one foreclosure petition -- the first action brought by banks in the foreclosure process -- filed in Malden in March, according to data from real estate publisher The Warren Group. By contrast, there were ten petitions filed in March 2012. Petitions were down 48 percent compared to the first three months of 2012. A total of 13 petitions had been filed through March of this year, compared to 25 in the same span in 2012.

Foreclosure deeds, the final action in the foreclosure process, have seen an even sharper drop. A total of 25 were filed in the first three months of last year, compared to only 3 this year.

Town-by-town data can be found here.

Foreclosure petitions saw a decline of over 50 percent in the first quarter of 2013 compared to 2012. A total of 2,080 petitions to foreclose were filed in the state through March, compared to 4,348 in the first quarter of 2012.

Foreclosure deeds are also down significantly statewide, falling over 70 percent. A total of 716 deeds were entered in the first quarter of this year, compared to 2,465 in the first quarter of 2012.

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

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