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Foreclosures fall in Medford

Posted by Jarret Bencks  April 2, 2013 03:21 PM

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In the first two months of last year, ten foreclosures were finalized in Medford. This year there have been none, according to recently released real estate data.

Foreclosure petitions -- the first step in the foreclosure process -- also fell sharply, according to real estate publisher The Warren Group. There were three foreclosure petitions last month compared to eight in February 2012.

Year-to-date, petitions are down from 12 in the first to months of 2012 to 6 so far this year. 

Town-by-town data can be found here.

Statewide, foreclosure petitions fell over 38 percent in February. A total of 856 petitions were filed last month, down from 1,394 in February 2012. Year-to-date 1,796 petitions filed, a 34 percent drop first two months of last year.

Foreclosure deeds also fell statewide, from 767 in February 2012 to 240 last month. A total of 532 deeds have been filed this year, compared to 1,566 in the first two month of 2012, according to an announcement from The Warren Group.

In a written statement, Warren Group CEO Timothy Warren said there have been four months of less than 1,000 foreclosure petitions statewide, and that's a promising sign.

The improved jobs picture and lenders' willingness to do short sales and loan modifications are helping to fuel the decrease," he said in the statement. "Hopefully this continues and improves consumer confidence as well."

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

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