The Foreclosure Report

Defaults Jump In Lowell, Mass.

Lowell Deeds reports from Massachusetts. "From February 1st to the 12th, a period of just eight business days, we recorded 13 foreclosure deeds. For the same eight day period in 2006, there were only 2 foreclosure deeds and the same was true for 2005."

"For 2007 to date, there have been a total of 31 foreclosure deeds recorded. Of those, 20 have been for properties in Lowell, 7 in Billerica and one each in Chelmsford and Dracut. This number is considerably higher than that seen in 2006 (12) and 2005 (5)."

"Here are the number of foreclosure deeds recorded between January 1 and February 12 of the years indicated: 1991 - 57; 1992 - 70; 1993 - 97; 1994 - 74; 1995 - 45; 1996 - 47; 1997 - 43; 1998 - 27; 1999 - 15."

"What can we tell from these stats? First, it’s not as bad now as it could be. But also that once it gets bad, it tends to stay that way for a group of years - 5 or more if the 1990s are any guide."

posted by Ben Jones @ 2:57 PM