Lowell Deeds

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

May 30, 2008

May Recording Statistics

by @ 5:01 pm. Filed under Archived, Statistics

It’s the last business day in May and the Recording Counter just shut down, so it’s time to compare this month’s numbers with May of 2007. The biggest change is in the number of foreclosure deeds recorded. (All of these comparisons are for Lowell documents only) The 51 foreclosure deeds recorded for Lowell this month are a 105% increase over the 20 recorded last May. I believe it also sets a record for the most foreclosure deeds recorded in a single month. The prior record was 44 back in 1993. The number of deeds recorded slid from 207 in May of 2007 to 158 in this May. The same thing happened with mortgages which declined from 449 last May to 261 this May, a 41% decline. One piece of potentially good news is that the number of Orders of Notice (the document that marks the beginning of a new foreclosure) declined 27% from 37 last May to 27 this May. While that could suggest that the rate of foreclosures is slowing, there are alternate explanations (Land Court is behind in processing new petitions or lenders are holding off on foreclosing hoping values will rebound, for example), so it’s not yet time to proclaim that the worst is over.

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