The latest on real estate recordings and new technology from the Middlesex North Registry of Deeds in Lowell
Each month we compare the number of major documents (deeds, mortgages and foreclosure deeds) recorded to the same month a year ago. By that measure, February 2009 wasn’t a bad month. For the entire district, the number of deeds recorded in February 2009 was down 3% compared to the number recorded in February 2008 but the number of mortgages was up 20% and the number of foreclosure deeds rose by 12%. When those same figures are split between Lowell and the nine towns in the district, a slighlty different picture is formed. In Lowell, the number of deeds recorded in February showed no change from 2008 to 2009. The number of mortgages recorded declined by 10% while foreclosure deeds increased 25%. In the towns, deeds were down 6% and foreclosure deeds were down 10%, but mortgages were up 19%. These statistics suggest that there was a refinancing “boomlet” in February in the towns but not in Lowell. The question now is whether this was an isolated upsurge or the start of something more sustainable.
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