Thursday, April 4, 2013
The numbers reflect a state trend.
Foreclosure activity in Somerville was low through February, according to recent figures from The Warren Group, publisher of Banker & Tradesman. According to the real estate and business research firm, there were no completed foreclosures in Somerville in February, and only two in 2013 through that month. In 2012 there were three completed foreclosures through February. When it comes to foreclosure petitions, which mark the first phase of the foreclosure process, there were two this February, compared to five during that month in 2012. On the year, eight properties entered the foreclosure process through February, compared to 10 during the first two months of 2012. Across the state, foreclosure petitions were down by 38 percent and …
Thursday, March 7, 2013
Meanwhile, foreclosure rates across the state dropped.
As home foreclosure rates dropped across the state, according to The Warren Group, publisher of Banker & Tradesman, foreclosure activity in Somerville actually increased in January as compared to January of 2012. But we're talking about small numbers. According to the business and real estate research firm, there were two completed foreclosures—called foreclosure deeds—in Somerville in January, compared to none the previous January. When it comes to foreclosure petitions, which mark the first step in the foreclosure process, there were six this January compared to five in January of 2012. Throughout 2012, there were 22 completed foreclosures in Somerville—a rate of about 1.8 per month. That was down 42 percent from 2011, which saw 38 …
Friday, January 4, 2013
Foreclosures remained down compared to 2011, according to The Warren Group.
Foreclosures in Somerville continued to be down through the month of November, according to recent figures from The Warren Group, publisher of Banker & Tradesman. Somerville saw two completed foreclosures in November of 2012, compared to six in November of 2011. On a year-over-year comparison, there were 21 completed foreclosures in Somerville through November of 2012, compared to 36 in the first 11 months of 2011. When it comes to foreclosure petitions, which represent the first steps in the foreclosure process, there were three petitions in November of 2012 compared to eight in November of 2011. On the year, however, foreclosure petitions were fairly level: There were 54 through November of 2012 and 56 through November of 2011. Across …
Tuesday, October 2, 2012
Completed foreclosures in Somerville remain lower than in 2011.
Foreclosures were down slightly in August, compared to August of 2011, according to figures released Tuesday by The Warren Group, publisher of Banker & Tradesman. There was 1 completed foreclosure in August, compared to 2 in August of 2011. When it comes to foreclosure petitions, which represent the beginning of the foreclosure process, there were 8 in August, compared to 9 in August of 2012. On the year through August, there have been 18 completed foreclosures, compared to 23 during the same period in 2011. When it comes to foreclosure petitions, however, there have been 41 on the year through August. That compares to 39 through August of 2011. Across the state, August saw the fewest number of completed foreclosures since February of 2011…
Tuesday, September 18, 2012
Foreclosure numbers remained relatively low in Somerville through July.
Somerville foreclosures were down in July when compared to July of 2011, according to figures released Monday by The Warren Group, publisher of Banker & Tradesman. There were 2 completed foreclosures in Somerville in July, according to the figures, compared to 4 in July of 2011. When it comes to foreclosure petitions, which represent the beginning of the foreclosure process, the numbers were also down. There were 3 foreclosure petitions in July, compared to 9 in July of 2012. On the year, through July, there have been 17 completed foreclosures, compared to 21 during the same period of 2011. One number was slightly up: On the year through July there were 33 foreclosure petitions, compared to 30 through July of 2011. Across the state, there …
Sunday, July 22, 2012
The state representatives want to make sure "mandatory mediation" procedures are part of a bill that would govern foreclosures in the state.
Foreclosures in Somerville were somewhat down in the first six months of this year when compared to the same period in 2011. However, foreclosures across the state were 18 percent higher. Meanwhile, according to an announcement from State Rep. Carl Sciortino's office, the state legislature is working on an "Act to Prevent Unlawful and Unnecessary Foreclosures." The announcement says Somerville's representatives in the Massachusetts House of Representatives support a "mandatory mediation" feature of the law that would require lenders to sit down with borrowers to work out ways to avoid foreclosure. Below is the announcement, and to the right is a letter signed by Somerville's representatives in support of mandatory mediation: Somerville …
Thursday, July 19, 2012
When compared to the first half of 2010, the decrease in foreclosures has been steep.
Somerville saw 15 completed foreclosures in the first six months of 2012, according to figures provided by The Warren Group, publisher of Banker & Tradesman. That's down from the 17 completed foreclosures seen in the first half of 2011. The decline in foreclosures was steep compared to 2010, when there were 29 completed foreclosures in the first six months of the year. Compared to that year, foreclosures this year are down 48 percent. However, when it comes to foreclosure petitions, which mark the beginning of the foreclosure process, the numbers were up in the first half of 2012 compared to 2011. There were 26 foreclosure petitions through June in 2012 and 21 through June in 2011, a 23 percent increase. Still, there were 66 foreclosure …
Thursday, June 21, 2012
There have been 12 completed foreclosures in the city this year through May.
Foreclosure numbers in Somerville have remained steady through May when compared to the same period in 2011. Through May in 2012 there have been 12 completed foreclosures in the city, compared to 13 through May last year, according to figures from The Warren Group, publisher of Banker & Tradesman. There were 3 completed foreclosures in May of both this year and last year, according to the figures. When it comes to foreclosure petitions, which represent the beginning of the foreclosure process, the numbers were slightly up this year. There have been 21 foreclosure petitions through May in 2012. In 2011, the number was 17. In May of both years, there were 6 foreclosure petitions. These relatively steady numbers come with a backdrop of rising…
Tuesday, May 29, 2012
After a slight increase in foreclosures in the first quarter of the year, April saw a drop in numbers.
There was one completed foreclosure in Somerville in April, and so far this year there have been nine completed foreclosures, according to figures from The Warren Group, publisher of Banker & Tradesman. By comparison, there were four completed foreclosures in Somerville during April of 2011, and 10 through the first four months of that year. These relatively low numbers are in contrast to what's happening across the state, where "foreclosure activity in April remained at levels dramatically higher than those recorded last year," according to the real estate and financial information firm. Across Massachusetts, there were 714 completed foreclosures in April, compared to 598 in April of 2011. So far this year, there have been 2968 …
Tuesday, May 1, 2012
Most of the foreclosures were completed in March. It's worth noting the number of foreclosures in Somerville is relatively small.
Somerville saw 5 completed foreclosures during March, which brought the total number of foreclosures during the first quarter of 2012 to 8, according to figures from The Warren Group, publisher of Banker & Tradesman. By comparison, there were 6 foreclosures in the first quarter of 2011 and only 1 foreclosure in March of that year. These numbers reflect what was happening statewide, according to The Warren Group. Across Massachusetts, there were 2254 foreclosures in the first three months of 2012, compared to 1677 in the first quarter of 2011. When it comes to foreclosure petitions—which mark the beginning of the foreclosure process—Somerville saw 12 in the first quarter, compared to 8 in the first quarter of 2011. Statewide there was a …
Ron Newman
9:48 am on Monday, July 23, 2012
Anything that makes it harder for the banks to foreclose is a good thing for ordinary homeowners and residents. more ›