Recent data from the Warren Group shows that foreclosure activity in Wakefield leveled off somewhat in September on a year over year basis. However, foreclosure petitions were still up significantly through September, 2012.
The Warren Group found that through September 2012, there were 42 foreclosure petitions filed in town, while year to date for that point in 2011 found only 11. The marks an increase of about 147%.
Despite the jump in foreclosure petitions, which represent the initial part of the process, there have been foreclosure auctions in Wakefield all year, and only 10 foreclosure deeds through September – compared to nine for that point in 2011.
Statewide, the Warren Group found that foreclosure petitions were at their lowest level since May 2011, but that year to date, they also remained up over last year.
The pace of homes entering the foreclosure process slowed in September, another strong indicator of a housing market recovery," said Timothy M. Warren Jr., CEO of The Warren Group. "Foreclosure deeds declined for the fourth month in a row. That's another good sign."