The overall foreclosure numbers for the commonwealth improved in August to the lowest level of the year so far. In Chelmsford however, the picture is somewhat different.

August was the third consecutive month of year-over-year foreclosure deed decreases in Massachusetts, as well as the fewest number of completed foreclosures in any month since February 2011. However, foreclosure deeds year over year have increased by 8.4 percent in the commonwealth, according to The Warren Group, publisher of Banker & Tradesman. 

"Fewer foreclosures were completed in recent months, which may indicate a greater effort from lenders to find loan alternatives," said Banker & Tradesman Editor Cory S. Hopkins. "As banks continue to return to more normal foreclosure procedures and the housing market follows the same path, we are likely to see more good news in coming months."

Closer to home, foreclosure petitions in Chelmsford stayed steady compared to a year ago, but have climbed year to date by 56 percent.

Foreclosure auctions rose slightly August compared to a year ago, in total 2012 has seen 8 percent decrease in auctions from 2011.

Foreclosure deeds, which grants ownership of property to the purchaser at a foreclosure sale, were also comparable between 2011 and 2012 in Chelmsford.

"Foreclosure starts are close to exceeding the total amount in all of 2011 - a seemingly bad sign," Hopkins added. "However, we're comparing to a slow year when banks nearly halted their foreclosure proceedings. I don't think this is cause for much alarm, but something to keep an eye on as foreclosures petitions are often a leading indicator of activity to come."

Chelmsford numbers

Source: The Warren Group, publisher of Banker & Tradesman.