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Medford foreclosures dropped 30 percent in 2012

Posted by Jarret Bencks  January 29, 2013 09:30 AM

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Completed foreclosures in Medford dropped nearly 30 percent in 2012, part of a trend that some experts believe will carry into 2013.

A total of 27 foreclosure deeds were entered in Medford last year, down from 44 in 2011, according to data from real estate publisher The Warren Group. None of the foreclosure deeds were entered in December, according to the data. Statewide, completed foreclosures fell 13 percent from 2011 to 2012, from 8,531 to 7,424.

Foreclosure petitions -- the first action taken by a bank in the foreclosure process -- dropped 8 percent in Medford, from 92 in 2011 to 85 last year.

Town-by-town foreclosure data 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.

"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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