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Melrose foreclosures flat in August, but up for the year

Posted by Matt Byrne  October 5, 2012 09:59 AM

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Foreclosures in Melrose were flat in August when compared to 2011, but for the year, Melrose has seen an increase in lenders petitioning to take over homes.

Through the end of August, 31 homes were the subject of foreclosure proceedings, up from 16 in the same eight-month span in 2011, according to The Warren Group, which tracks real estate transactions throughout Massachusetts.

Deeds of foreclosed homes, the mark of a completed foreclosure process, also are up in 2012, from eight last year to 15 this year.

For town-by-town stats, click here.

Statewide in August, fewer foreclosures were recorded than in any other month so far this year.

Lenders completed 566 foreclosures in Massachusetts, the third consecutive month that the state's rate fell when compared to the same months last year.

"Fewer foreclosures were completed in recent months, which may indicate a greater effort from lenders to find loan alternatives," said Banker & Tradesman Editor Cory S. Hopkins in a statement.

"As banks continue to return to more normal foreclosure procedures and the housing market follows the same path, we are likely to see more good news in coming months," Hopkins said.

Matt Byrne can be reached at mbyrne.globe@gmail.com.

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