Foreclosure Activity Nonexistent in Stoneham During February

As Massachusetts saw its foreclosure activity continue to fall in February, Stoneham saw foreclosure activity come to dead stop.

The Warren Group tracks foreclosure petitions, the first step in the foreclosure process, deeds that represent completed foreclosures and foreclosure auction announcements.

In February, there weren't any foreclosure petitions or deeds filed against Stoneham properties, and there weren't any auction announcements.

In the same month last year, there was one foreclosure petition filed against a Stoneham property and three foreclosure deeds.

Statewide foreclosure petitions dropped more than 38 percent year-over-year in February. Deeds dropped 69 percent and auction announcements dropped 76 percent.

In a press release, The Warren Group attributed the year-over-year decline in foreclosure activity to to improving economic conditions and a revitalized real estate market.

"Seeing four consecutive months of petitions below 1,000 is a promising sign," said Timothy M. Warren Jr., CEO of The Warren Group, in the release. "The improved jobs picture and lenders' willingness to do short sales and loan modifications are helping to fuel the decrease. Hopefully this continues and improves consumer confidence as well."

Year-to-date, Stoneham has had one foreclosure petition and no deeds or auction announcements. In the first two months of last year, there were five foreclosure petitions, seven deeds and no auction announcements.

Statewide, foreclosure petitions are down 34 percent year-to-date, deeds are down 66 percent and auction announcements are down 77 percent.