The latest on real estate recordings and new technology from the Middlesex North Registry of Deeds in Lowell
The number of foreclosure deeds recorded in May 2009 was down drastically when compared to May 2008, but the number of orders of notice – the documents that signal the start of the foreclosure process – rose significantly during that same period. First the good news: During May 2008, a total of 75 foreclosure deeds were recorded for the entire Middlesex North District, while in May 2009, there were only 22, a decrease of 70%. For the city of Lowell there was an even bigger drop (77%) from 48 down to 11. But the number of orders of notice recorded have started to rise, signaling a new wave of foreclosures, perhaps. For the entire district in May 2008, there were 49 orders of notice recorded; during May 2009 that number rose to 11, an increase of 22%. In Lowell, the May 2008 total of 25 jumped to 33 this May, a rise of 32%. Unfortunately, the increase in the number of orders of notices recorded suggests that the real estate crisis is far from over. (Note: the May 2009 figures are as of noontime on May 29, the last business day of the month, so the final statistics could rise slightly).
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