Norwood and Massachusetts Sees Significant Decrease in Foreclosures - Norwood, MA Patch

Norwood and Massachusetts Sees Significant Decrease in Foreclosures - Norwood, MA Patch:


Norwood and Massachusetts Sees Significant Decrease in Foreclosures
Data from the Warren Group shows a drop in foreclosures in Norwood and Massachusetts.
By Jeff Sullivan Email the author May 21, 2013
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When it comes to foreclosures, Norwood and the state are enjoying a drastic decrease.

According to new data from the Warren Group, foreclosure petitions for the state dropped 82.42 percent in March 2013 compared to 2012. Total year to date petitions also dropped 52.16 percent

"Overall, we're seeing foreclosures drop all over the country, but Massachusetts is exceptional in its reduction. The Mortgage Bankers Association reports that we rank 48th in foreclosures started in the first quarter of 2013," said The Warren Group CEO Timothy M. Warren Jr. "Foreclosure prevention efforts combined with a booming real estate market are leading to fewer foreclosures."

In Norwood, foreclosure petitions in March dropped by 80 percent from five in March 2012 to one in March 2013. Year to date foreclosure petitions also decreased from 16 to six.

Foreclosure deeds also fell from three to zero in March and from four to zero from year to date 2012 to 2013.