NHBR Article

N.H. foreclosures set June record

Thursday, July 29, 2010

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As the recession drags on, foreclosures in New Hampshire have continued to climb, reaching record levels.

According to the New Hampshire Housing Finance Authority, 377 foreclosed deeds were recorded in June – a 45 percent increase over June 2009.

It was a record for the month of June and the second highest since 2005.

Foreclosure auction notices were also up in June, with 867 notices posted, an increase of 12 percent from 774 in May.

June 2010’s numbers were only 1 percent higher than those of June 2009.

"At this pace New Hampshire remains on track for a record number of foreclosures this year," said the authority. "A significant decline in the number of foreclosures is unlikely until we see steady improvement in the underlying economic conditions including real growth in jobs and a resurgence of residential property values accompanied by an increase in demand."

New Hampshire Housing Finance Authority operates a broad range of programs designed to assist low- and moderate-income residents in obtaining safe and affordable housing. – CINDY KIBBE/NEW HAMPSHIRE BUSINESS REVIEW

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