Jul 28, 2014

Medfield Completed Foreclosures Up in March

Town sees increase in completed foreclosures, while new foreclosures remain steady.

Medfield Completed Foreclosures Up in March

The number of completed foreclosures in Medfield was up in March, according to data released last week.

The data, compiled by real estate information firm The Warren Group, saw one foreclosure deed (or completed foreclosures) in the month, up from zero in March 2011. Foreclosure petitions (which represent newly started foreclosures) remain at one year-over-year.

The state saw a 55 percent increase in foreclosure petitions, with 1,621 in the month, up from 1,048 in March 2011. Massachusetts has had a 71.5 percent increase in petitions in the first quarter.

Massachusetts foreclosure deeds also saw a jump, with 856 last month, up from 627 last year (a 36.5 percent increase). For the first quarter, the state has seen a 34.4 percent rise.

Warren Group CEO Timothy Warren said in a statement that the increase in the state is not unique.

"Banks are stepping up foreclosures all over the country, and Massachusetts is no exception," he said. "Since the suit by state attorneys general over foreclosure abuses has been settled, a cloud has lifted and we may see numbers continue to rise."

Here are the foreclosure statistics for area towns:

  • Dover's foreclosure petitions and deeds were both steady at zero for the month.
  • Easton had a substantial increase in foreclosure petitions, jumping from three last year to 11 last month. Deeds, however, fell from four to two over the same time frame.
  • In Foxborough, foreclosure petitions dropped from three in March 2011 to two last month, while deeds were up from one to two.
  • Mansfield saw a big jump in foreclosure petitions, from two last year to seven in March. Deeds increased as well, from zero to two.
  • Norfolk's foreclosure petitions were at one for both March 2011 and March 2012, while deeds jumped from zero to three.
  • Norton's foreclosure petitions were steady at three for the month, and deeds fell from four to zero.
  • Norwood had its foreclosure petitions drop slightly, from six to five, while deeds jumped from one to two.
  • Plainville foreclosure petitions remained at three year-over-year and deeds were steady at one.
  • Foreclosure petitions in Sharon jumped sharply, going from zero to five, while deeds were up from one to two.
  • Stoughton's foreclosure petitions climbed from four to 13, while deeds were steady at two.

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