With red tape gone, foreclosures up

Foreclosures have increased in the Attleboro area.

Sun Chronicle File Photo

A respite in the number of real estate foreclosures across the state in July did not happen in the Attleboro area, with the number of new foreclosure petitions and completed foreclosures up slightly over July 2015.

According to the Warren Group, which tracks regional real estate trends, 29 new foreclosure petitions were filed by lenders last month in 10 Attleboro area communities, up 7.4 percent from the 27 petitions filed at the same time last year.

Year-to-date, area petitions increased 39.3 percent from 188 through July 2015 to 262 last month.

Statewide, petitions to foreclose fell 1 percent in July according to the Warren Group, a possible sign that the increase in foreclosures over the past two years might finally be easing.

Massachusetts lenders filed 1,032 petitions to foreclose in July, compared with 1,044 filed in July 2015.

Statewide, there have been 7,648 petitions filed year-to-date, a 20.2 percent increase from last year. Petitions are the first step in the foreclosure process, when lenders file notice of their intention to foreclose.

“After more than two years of increases in foreclosure petitions, starts are finally starting to slow,” said Cassidy Murphy, editorial director of The Warren Group. “While a 1 percent drop in this case equates to a difference of 12 petitions — which is well within the margin of error — it’s still an encouraging sign that foreclosures are still stabilizing in the state.”

A total of 560 foreclosure deeds were filed across Massachusetts in July, a 45.1 percent increase from the 386 deeds filed in July 2015.

In the Attleboro area, foreclosure deeds increased from 15 to 20 — 33 percent over July 2015.

Foreclosure deeds represent the final step in the foreclosure process, when lenders record a new deed indicating there has been a change in the ownership of the foreclosed property.

Local real estate foreclosures, July

Community Foreclosures '15 Foreclosures '16 Pct. Deeds '15 Deeds '16 Pct.
Attleboro 9 10 11 4 5 25
Foxboro 1 4 300 10 19 90
Mansfield 5 3 -40 12 24 100
Norfolk 1 1 0 1 3 200
N. Attleboro 4 0 -100 3 3 0
Norton 3 2 -33 3 2 -33
Plainville 0 1 100 0 2 200
Rehoboth 1 3 200 1 1 0
Seekonk 0 4 300 1 2 100
Wrentham 3 1 -66.7 1 0 -100

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.