Lowell Deeds

The latest on real estate recordings and new technology from the Middlesex North Registry of Deeds in Lowell

May 19, 2006

Letter to Editor in Globe

by @ 9:20 am. Filed under Real Estate

Back on May 10th, the Boston Globe ran a front page story on the increase in the number of foreclosures in Massachusetts during the first quarter of this year. Prompted by that article (which I blogged about that day), I did some analysis of foreclosure statistics at this registry, comparing the number of Orders of Notice recorded so far this year with the number recorded during the same period in 2005. The results of my investigation caused me to write a letter to the editor of the Globe. It was published last Sunday, May 14, 2006 in the Business Section on page E3. The numbers I cite need no further comment:

Your recent article on the 30% increase in foreclosures during the first three months of 2006 (“More are struggling to pay the mortgage”, May 10, 2006, Page A1) prompted me to scrutinize the most recent recording statistics at the Middlesex North Registry of Deeds in Lowell. I was shocked to discover just how rapidly the pace of foreclosure activity has accelerated in the past two months. While the number of foreclosures commenced in January and February 2006 was 15% less than in 2005, the number of foreclosures started in March 2006 was 100% higher than in March 2005, April 2006 was 76% higher than in April 2005 and, amazingly, the number recorded in the first ten days of May was 356% higher than the same time last year (41 versus 9). Because of the relatively benign level of activity in January and February and the soaring rate since March 1, the situation may be far worse than was portrayed.

Richard P. Howe Jr.
Register of Deeds
Middlesex North District

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