Foreclosure actions in Malden plummeted in February, according to recently released real estate data.
Foreclosure petition filings -- the first step in the foreclosure process -- fell from nine in February 2012 to three last month, according to data from real estate publisher The Warren Group. And foreclosure deeds -- the final step in the process -- fell from nine to two.
Year to date, the number of foreclosure deeds in Malden is down over 80 percent, from 17 in the first two months of 2012 to just three so far this year. Foreclosure petitions year-to-date are down from 15 to 12.
Town-by-town data can be found here.
Statewide, foreclosure petitions fell over 38 percent in February. A total of 856 petitions were filed last month, down from 1,394 in February 2012. Year-to-date 1,796 petitions filed, a 34 percent drop first two months of last year.
Foreclosure deeds also fell statewide, from 767 in February 2012 to 240 last month. A total of 532 deeds have been filed this year, compared to 1,566 in the first two month of 2012, according to an announcement from The Warren Group.
In a written statement, Warren Group CEO Timothy Warren said there have been four months of less than 1,000 foreclosure petitions statewide, and that's a promising sign.
The improved jobs picture and lenders' willingness to do short sales and loan modifications are helping to fuel the decrease," he said in the statement. "Hopefully this continues and improves consumer confidence as well."