Foreclosure activity slowed in July
Foreclosure activity in Somerville slowed in July, new housing data show. Lenders petitioned to foreclose on only three homes, down from nine in July 2011, according to The Warren Group, which tracks real estate transactions throughout the state. For the year, auctions of foreclosed homes also declined, down from 76 through the first seven months of 2011 to 54 in the same period this year. Deeds of foreclosed homes, the mark of a completed foreclosure process, also slid, from 21 through July 2011, to 17 in 2012. Statewide, lenders filed 1,198 petitions for foreclosure, the lowest monthly level recorded so far this year. “It appears there is a downward trend in foreclosure activity,’’ said The Warren Group chief executive Timothy M. Warren Jr.
. “A strong economy and recovering housing market is helping lift consumer confidence. This news paired with banks’ return to standard foreclosure processes is also helping.’’
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