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Foreclosures dropped in Somerville in 2012

Posted by Jarret Bencks  January 29, 2013 10:07 AM

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Foreclosure actions fell Somerville last year, part of a nationwide trend that some experts believe will continue in 2013.

A total of 22 foreclosure deeds were entered in Somerville last year, down from 38 in 2011, according to data from real estate publisher The Warren Group. Foreclosure petitions -- the first step a bank takes in the foreclosure process -- fell slightly, from 58 to 56.

Statewide, foreclosure petitions rose 35 percent in Massachusetts, from 12,634 to 17,152, while foreclosure deeds fell 13 percent, from 8,531 to 7,424.

Town-by-town results 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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