Completed Weston Foreclosures Drop in 2012
Although the number of completed foreclosures dropped, Weston saw more people start the foreclosure process in 2012 compared to 2011.
Along with a 28 percent increase in home sales in 2012, the total number of completed foreclosures in Weston 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, Weston had only one foreclosure deed, an 85.7 percent drop from the seven completed in 2011.
Foreclosure deeds represent a completed foreclosure, according to the Warren Group press release.
Weston also saw fewer foreclosure auctions in 2012, dropping 53.3 percent from 15 total auctions in 2011 to seven auctions in 2012.
Although the completed foreclosures dropped in 2012, Weston saw an uptick in foreclosure petitions, which represent the first step in the foreclosure process in Massachusetts. At the end of 2012, Weston had a total of 10 foreclosure petitions, a 67.7 percent increase over the six 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.
Similar to Weston, 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.