** The numbers of new petitions & lis pendens has skyrocketed over the past two weeks. As recently as three weeks ago, it was 80 or less; last wo weeks, doubled, and going higher.
The Warren Group weekly foreclosures data, for the week ending 01/31/2007, for all of Suffolk County (includes Boston, Revere, Winthrop and Chelsea-by-the-sea) (compared to the prior week).
New Petitions & Lis Pendens: 200 (163)
Auctions: 19 (39)
Bank Owned REO: 11 (28)
Industry Terms, courtesy of The Warren Group
A Foreclosure Auction: The public sale of mortgaged property, and usually indicates a default in the repayment of a mortgage loan … Prior to the sale, public notice stating the time and place of the sale must be published where the property is located.
Petitions to Foreclose (Specific to Massachusetts): The filing of these documents is the first indication that the property is in distress. The petition to foreclose process serves to notify interested parties through the publication of legal notices in local newspapers that the lender has asked for authority to foreclose the mortgage it holds on the property …
Lis Penden: Listings indicating a pending legal action against the property owner. They are NOT a guarantee of pre-foreclosure activity. However, the listings between a property owner and a mortgage lender most likely are.
Bank Owned/REO Property: A residential property most likely acquired as a mortgage repossession.
The Warren Group has a foreclosures website where you can research all properties in foreclosure. Cost is $29.95, although some of their information is accessible for free.
The Warren Group provides foreclosure information for Massachusetts, New Hampshire, Connecticut and Rhode Island.
All foreclosure records for all three states include property and assessment information as well as sales and mortgage history.
Currently, for Massachusetts, we offer foreclosure auctions, petitions to foreclose, sheriff sales, and lis pendens; for New Hampshire, we provide foreclosure auctions; for Connecticut, we provide lis pendens; and for Rhode Island, we provide foreclosure auctions.
Source: Warren Group Foreclosures