Lowell Deeds

An article appearing on the Lowell Sun’s website this afternoon proclaims “Foreclosure announcements skyrocket” and cites a reprt by the Warren Group that says the number of actual foreclosure auctions held in April of 2007 almost quadrupled when compared to last April. This report caused us to examine our statistics. In April 2007, we recorded 29 foreclosure deeds. In April 2007, we recorded 113 orders of notice compared to only 58 for last April. Our year-to-date statistics showed similar increases. From January 1 to May 15, 2007, we recorded 117 foreclosure deeds and 431 orders of notice while for the same period of 2006 we recorded 42 foreclosure deeds and 206 orders of notice. The figures for the first two weeks of May paint an interesting picture. From May 1 to 15, 2007, we recorded 17 foreclosure deeds, a major increase from the 4 we recorded during the same period in 2006. Orders on notice tell a different story: From May 1 to 15, 2007, we only recorded 36 while for the same period in 2006 we recorded 47. Could this be a sign that the foreclosure crisis is beginning to slow? Hopefully, yes, but we’ll keep tracking these statistics weekly to look for confirmation of this trend.