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Melrose foreclosures increase, bucking state trend

Posted by Matt Byrne  September 19, 2012 10:12 AM

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Through July, foreclosure activity in Melrose has seen an unusual uptick, even as rates throughout the state declined.

Through July 31, lenders filed 15 more petitions for foreclosure than in the same period last year, for a total of 29, according to The Warren Group, which tracks real estate transactions throughout the state.

Auctions of foreclosed homes in Melrose also climbed, from 28 in the first seven months of 2011, to 29 this year.

Deeds of foreclosed homes, the mark of a completed foreclosure process, also spiked, from six in 2011, to 13 through July of this year.

For town-by-town stats, click here.

The increases go against a state trend of declining foreclosures, the Warren Group said.

Statewide, lenders filed 1,198 petitions for foreclosure in July, the lowest monthly level recorded so far this year.

"It appears there is a downward trend in foreclosure activity," said The Warren Group CEO Timothy M. Warren Jr. in a statement. "A strong economy and recovering housing market is helping lift consumer confidence. This news paired with banks' return to standard foreclosure processes is also helping."

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