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Recent foreclosure data shows mixed results in Melrose

Posted by Jarret Bencks  March 10, 2013 10:09 AM

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Foreclosure petitions in Melrose rose in February, while finalized foreclosures fell, but the figures are too small to take much away from them.

Petitions -- the first action a bank takes in the foreclosure process -- rose from one in January 2012 to three in February, according to data from real estate publisher The Warren Group. There weren't any foreclosure deeds -- the final act in the process -- last month, compared to three in January 2012, according to the data.

Find town-by-town data here.

Statewide, foreclosure activity saw a significant drop, with petitions falling about 30 percent. Petitions fell to 940 from 1,333 in 2012.

"We're finally seeing a clear picture of the trend in foreclosures - and it is good news," said Timothy M. Warren Jr., CEO of The Warren Group. "The housing market has greatly improved - a sign that the economy is gaining ground and foreclosures will continue to subside."

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

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