Lowell Deeds

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

August 29, 2006

Foreclosure Stats

by @ 8:30 am. Filed under Statistics

This morning’s Boston Herald reports that mortgage foreclosures in Massachusetts are on the rise. The information comes from ForeclosureMass.com a company which keeps detailed statistics on foreclosures and “Orders of Notice”. Statewide foreclosures have increased by an average of 56%. Here is a sampling of some Mass counties…Plymouth County 102%; Bristol County 72%; Worcester County 65%and Suffolk County 63%. The figures compare July 2005 to July 2006. In July 2005 lenders began foreclosure proceedings on 866 mortgages in 2006 the number ballooned to 1,348. To create some balance, the Herald sites economist Mike Fratantoni of Mortgage Bankers Association. Fratantoni concedes that the July 2006 figures represent a large increase but the current foreclosure rate represents only .59 percent of all the state’s mortgages. According to Fratantoni this is about one third the 1.98 percent seen in the last housing slump of 1992.

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