Foreclosures in Medford dipped slightly this July compared to last year, but there have been more foreclosures year-to-date in 2012, according to recent data.
There were seven foreclosure petitions filed for Medford properties in July compared to nine in July 2011, according to data from real estate publisher The Warren Group. Year-to-date, there have been 51 foreclosures in Medford, up from 43 through July of 2011, according to the data.
The numbers in Medford are similar to state trends. Foreclosures were down 17 percent in July 2012 compared to July 2011, from 1,441 to 1,198, according to the data. Still, foreclosures are up considerably statewide from last year, with 6,856 initiated through July 2012 compared to 10,623 in as many months in 2011.
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"It appears there is a downward trend in foreclosure activity," Warren Group CEO Timothy Warren said in a written statement. "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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