Foreclosures in Waltham increased last month, according to newly released data.
Five foreclosure requests were made in May, up from none in April, according to new data from The Warren Group. To date, 17 foreclosure requests have been made in Waltham, a 70 percent increase over the same time last year. The trend mirrors the doubling of statewide foreclosure requests, according to the data.
The increase comes as a $25 billion settlement between the country’s largest loan lenders and homeowners is expected to drive up the number of foreclosures, according to a press release from The Warren Group.
"Foreclosures are expected to rise throughout this year. We're seeing banks acting more aggressively in resuming foreclosures that were put on hold in 2011," Warren Group editorial director Cory S. Hopkins said in a statement. "In order to return to a healthier market, we need these distressed properties to get cleared from banks' books. The increased activity also leads to opportunity for buyers.
The number of completed foreclosures increased by 100 percent from two to four last month compared to the same time last year, according to the data. To date, there have been 15 completed foreclosures, one less than the same time last year.
There were no foreclosure auctions last month in Waltham, while statewide auctions dropped by 27 percent, according to the data.