Lynnfield’s foreclosure activity is remaining relatively low and consistent, even as new data finds a statewide upswing in completed foreclosures.
November data from the Warren Group cited a 71 percent increase in foreclosure deeds between November 2010 and 2011 – which apparently suggests that in general, lenders have been able to move through a backlog of foreclosures.
The data also found fewer foreclosures being originated in Massachusetts, which could be due to an improving unemployment rate. Foreclosure auctions were also reportedly down noticeably in the past year.
In Lynnfield, year to date foreclosure deeds in November held steady at 10 for 2010 and 2011. Consistent with the statewide figures, year to date foreclosure petitions in Lynnfield at the end of November were 29 in 2010 and 12 in 2011, for a 58.6 percent decrease.
There were three foreclosure deeds in Lynnfield in 2011 compared to just one in 2010, while there have been four year to date foreclosure auctions this year, compared to two at this point in 2010.