Foreclosures remain at record levels in N.H.

While the number of foreclosures continues to reach record levels in New Hampshire, foreclosure auction notices have begun a slight decline. According to the New Hampshire Housing Finance Authority, there were 346 foreclosed deeds recorded in July, a 16 percent increase from July 2009. The total is a record high for the month of July and marks the seventh month in a row in which there has been an increase from the previous year.Through July of this year, there have been 29 percent more foreclosure deeds recorded in total than last year at this time.”At this pace, New Hampshire remains on track for a record number of foreclosures this year,” said the authority. On the other hand, there were 743 foreclosure auction notices in July, a 14 percent decrease from June, when there were 867, as well as a 14 percent decrease from the number of notices in July 2009.This is the third monthly decline in the past four months, which the authority says may be attributed to improvement in other economic indicators. “While there is evidence of improvement in New Hampshire’s underlying economic conditions (declining unemployment and improving job growth), a sustained period of economic improvement is needed to slow the rate of foreclosures in New Hampshire,” said the authority. — KATHLEEN CALLAHAN/NEW HAMPSHIRE BUSINESS REVIEW

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