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Growth in MA foreclosures sees a slowdown in June

 
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PostPosted: Thu Jul 31, 2008 1:13 pm GMT    Post subject: Growth in MA foreclosures sees a slowdown in June Reply with quote

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Description: Growth in MA foreclosures sees a slowdown in June
URL: http://www.patriotledger.com/business/x478787404/Growth-in-foreclosures-sees-a-s ...truncated...
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Hard Rain
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PostPosted: Sat Aug 02, 2008 6:53 pm GMT    Post subject: Reply with quote

I don't know where this data is coming from, a quick search of Middlesex South shows that Orders of Notice almost doubled in June 2008 (213) compared with June 2007 (125). Go figure....
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PostPosted: Sat Aug 02, 2008 8:00 pm GMT    Post subject: Reply with quote

Hard Rain wrote:
I don't know where this data is coming from, a quick search of Middlesex South shows that Orders of Notice almost doubled in June 2008 (213) compared with June 2007 (125). Go figure....


The article referred to foreclosure deeds, which I believe come some time after orders of notice. I don't know what the time lag is between the two, but I think it's on the order of months. Also, I think the foreclosure deeds are probably only down temporarily due to the new 90 day "right to cure" law.

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PostPosted: Sat Aug 02, 2008 11:13 pm GMT    Post subject: Reply with quote

"The article referred to foreclosure deeds, which I believe come some time after orders of notice"

It also mentions initial petitions or orders of notice..

"The slowdown in foreclosures follows a steep drop in initial petitions to foreclose. The number of initial petitions, the first step in the foreclosure process, fell 82 percent in May from the same month a year ago, and they fell 85 percent in June."
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