As of the end of September, 17 foreclosure petitions had been filed in Lynnfield – nearly double the amount recorded at that point in 2011.
The latest data from the Warren Group found an almost 89% increase over the 9 foreclosure petitions recorded in Lynnfield at the end of last September. While the number is up for the year in Lynnfield though, there was only one foreclosure petition in all of September, 2012 – compared to three for that month last year.
Outside of the increase in foreclosure petitions, the town has little activity otherwise going on in this area. As of the end of September, there had been six foreclosure auctions in Lynnfield all year, while at that point in 2011, there had been four. Year to date foreclosure deeds at the end of September, 2012 stood at four, compared to six for that point in 2011.
Statewide, the latest Warren Group report found that foreclosure petitions in Massachusetts have fallen to their lowest level since May, 2011 – although like in Lynnfield, year to date foreclosure petitions remain up statewide.
"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."