Waltham Fares OK In Recent Foreclosure Activity

While foreclosure activity is up statewide, Waltham has fared OK recently.

Foreclosure petitions in Waltham have stayed steady, with three in October of last year and the same amount this year.

Overall, however, Waltham foreclosure petitions to date have fallen so far this year, from 89 during the same period last year.  

Foreclosure auctions jumped 100 percent from zero in October 2010 to 86 in October of this year. Overall, 86 foreclosure auctions have been held to date this year.

Waltham foreclosure deeds (which indicated a completed foreclosure) stayed steady with 31 in October 2010 and 31 in October of this year.

Statewide, foreclosure rates jumped 5.9 percent over a year ago, according to data from The Warren Group. Specifically, there have been 1,193 foreclosures petitions this year while 1,127 were performed in October of last year.

This month marks the first since August 2010 during which foreclosure petitions have increased, according to the Warren Group.

"A rise in foreclosures is troubling for distressed homeowners, but in this case it's a positive signal that the backlog of foreclosures on bank's books is working through the system," Warren Group CEO Timothy M. Warren Jr. said in a statement."The real estate market cannot fully recover until foreclosures have been dealt with one way or another."

Overall, foreclosures, as of October, have decreased statewide with 22,091 in last year, to 10,610 so far this year, according to the Warren Group.

Also, the state has seen a 35.7 increase in foreclosure deeds over October of last year with 756 in October 2010, up from 557 in October of this year. In total, 6,963 foreclosure deeds have been records this year, down from 11,334 last year to date, according to the Warren Group.