Winchester Sees a Slight Increase in Home Foreclosures

While the housing market continues to improve as foreclosures have decreased across the state, Winchester saw a slight increase in home foreclosures this year, compared to 2010.

Foreclosure deeds, which mark the completion of a foreclosure, decreased statewide by 50 percent compared to last year. While Winchester saw no foreclosure deeds in April the last two years, the town did see a slight increase in year-to-date foreclosure deeds. Only one foreclosure deed was completed by this time last year – this year, two have been filed in Winchester.

However, home foreclosure petitions are down by half in Winchester compared to this time year last year, which follows the overall statewide trend, according to new data released by the Warren Group. By April of last year, there were eight foreclosure petitions in Winchester, this year there are four.

The petitions, which is the first step in a foreclosure, dropped by half in April, compared to last year at the statewide level. In Winchester, the number increased by 100 percent. Last April there was one petition, this year there were two.

Year-to-date foreclosure petitions have also dropped in Massachusetts. Through April of this year, 3,727 petitions to foreclose have been filed in Massachusetts, down 58 percent from 9,008 during the same period in 2010.

In Winchester, four petitions to foreclose were filed, compared to eight at this time last year, a 50 percent drop.

Timothy M. Warren Jr., chief executive officer of The Warren Group, said that overall in Massachusetts, petitions for foreclosures are actually on the rise, hinting that foreclosure activity may also rise in the next few months.

"Lenders are still taking a cautious approach to foreclosures, and this is keeping foreclosure statistics at low levels for a while longer," said Timothy M. Warren Jr., CEO of The Warren Group. "This brief downturn should not sway us from the reality that the foreclosure crisis is not over, and we are likely to see more activity work its way through the system."