Foreclosure Activity Remains Light In Lynnfield

Foreclosure activity has remained light in Lynnfield for much of the past year, according to new data from the Warren Group.

The latest report from the Massachusetts-based real estate information firm noted that as of the end of August, only three foreclosure petitions had been filed in Lynnfield for 2013. At that point in 2012, 16 foreclosure petitions had been filed.  August saw no foreclosure petitions filed in town.

The report also noted there were two foreclosure auctions in Lynnfield so far in 2013, compared to six for the same period in 2012, as well as one foreclosure deed – compared to four by the end of August 2012.

"The decline in foreclosure activity coincides with significant increases in sales volume and home prices. Other factors include an improved economy, loan modifications and other alternatives to foreclosure,” said Warren Group CEO Timothy M. Warren Jr.