Mixed Foreclosure News in Wrentham in April
Wrentham sees new foreclosures increase, but completed foreclosures down.
Wrentham had mixed foreclosure results in the month of April, according to data released today.
The data, compiled by real estate information firm The Warren Group, had the town's newly started foreclosures (called foreclosure petitions) increasing from one in April 2011 to two last month. Deeds, however, fell from three last year to two in April 2012.
Massachusetts itself saw a nearly 47 percent jump in petitions year-over-year, from 1,191 to 1,750. Deeds were up 19 percent, from 598 to 714 over the same time period.
Warren Group Editorial Director Cory Hopkins said in a statement that the increase isn't as troubling at it might seem.
"Foreclosure activity was so low last year that we're inevitably seeing a rise in foreclosures across the state," he said. "It's necessary for a wave of foreclosures to work through the system this year, but it shouldn't cause panic."
Hopkins said the bump could be beneficial in the long run.
"In order to return to a healthier market, the backlog of distressed properties needs to be cleared from banks' books" he said.
Here are the foreclosure statistics for area towns:
- Dover's foreclosure petitions went up from zero in April 2011 to one in April 2012, and deeds increased from zero to three.
- Easton's foreclosure petitions doubled year-over-year, from two last April to four last month. Deeds climbed from zero to one.
- Foxborough's April petitions jumped from one to two, while deeds saw a drastic spike — going from one last year to 21 last month.
- Mansfield had its April foreclosure petition increase dramatically, from two in 2011 to eight last month, while deeds were steady at one.
- Medfield's foreclosure activity was unchanged, with one foreclosure petition and zero foreclosure deeds in both April 2011 and April 2012.
- Norfolk had its foreclosure petitions remain at one year-over-year, while deeds were up from one to zero.
- Norton had its foreclosure petitions climb from five to seven year-over-year, while deeds fell from one to zero.
- Norwood's foreclosure petitions increased from two in April 2011 to three in April 2012, and deeds were up from zero to two.
- Plainville foreclosure petitions climbed from three to four, while deeds were steady at zero.
- Sharon had its foreclosure petitions go up from zero to six in April, and deeds increased from three to four.
- Stoughton saw its foreclosure petitions jump from seven to ten, but deeds fell by half, from four to two.