Dick Howe at the Middlesex North Registry of Deeds in Lowell reports that foreclosure sales are up but that the foreclosure pipeline has not dramatically increased: Foreclosures Up – but not for long.
In May, 2006, there were 78 Orders of Notice and 8 foreclosure deeds.
In May, 2007, there were 65 Orders of Notice and 40 foreclosure deeds.
It looks like the flow of borrowers in trouble is starting to slow and lenders are clearing the troubled loans from their books.
Based on a comparison of the number or recorded deeds in this registry, the volume of sales has not changed significantly. In April of 2006, 555 deeds were recorded. In April of 2007, 541 deeds were recorded.