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Completed Belmont Foreclosures Drop in 2012

Along with the number of completed foreclosures dropped, Belmont saw less people start the foreclosure process in 2012 compared to 2011.

The total number of completed foreclosures in Belmont decreased last year, according to statistics gathered by the Warren Group, the Boston-based real estate and banking information publishers for New England.

At the end of 2012, Belmont had a total of 4 foreclosure deeds, a 33.3 percent drop from the 6 completed in 2011.

Foreclosure deeds represent a completed foreclosure, according to the Warren Group press release.

Belmont also saw fewer foreclosure auctions in 2012, dropping 30 percent from 24 total auctions in 2011 to 17 auctions in 2012.

Belmont saw an downturn in foreclosure petitions, which represent the first step in the foreclosure process in Massachusetts. At the end of 2012, Belmont had a total of 14 foreclosure petitions, a 29 percent increase over the number of petitions filed in 2011. 

Statewide, the number of completed foreclosures dropped by nearly 13 percent in 2012, according to a press release from the Warren Group. The number of foreclosure deeds in Massachusetts totaled 7,424 in 2012, down from 8,531 in 2011. 

Unlike Belmont, the number of foreclosure petitions rose in Massachusetts in 2012. Last year saw 17,152 foreclosure petitions compared to 12,634 in 2011, a 35 percent increase.

parker February 04, 2013 at 08:52 PM
correction - At the end of 2012, Belmont had a total of 14 foreclosure petitions, a 26 percent decrease from the number of petitions filed in 2011 (not 29 percent increase).

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