Nov. foreclosures down 11%

In a welcome holiday bonus, foreclosures in New Hampshire were down some 11 percent in November from the prior month.According to the New Hampshire Housing Finance Authority, there were 227 foreclosures reported in November – the second monthly decrease in a row – down from the 255 reported in October.November’s foreclosures were also some 9 percent below the 250 recorded in November 2009.”The decline over the past two months appears to be the result of the moratoria on foreclosure proceedings announced by several large mortgage lenders at the end of September,” said the authority. “In addition, foreclosure activity has traditionally declined in November and December for the holiday season.”Despite the good news, the authority also was quick to add that 2010 has been another record year for foreclosures in the Granite State, and December’s numbers have yet to be placed in the books.”Total foreclosures for the year have already exceeded last year’s as well as the record high number of foreclosures, in this recent cycle, of 3,563 set in 2008,” said the authority.Through November 2010, there have been a total 3,750 foreclosed deeds.Foreclosure auction notices, which provide an up-to-date snapshot of the number of households that have fallen seriously behind in their mortgage payments, had also declined in November to 689 from 750 in the prior month – an 8 percent drop.The New Hampshire Housing Finance Authority provides housing assistance and resources to income-eligible individuals and families – CINDY KIBBE/NEW HAMPSHIRE BUSINESS REVIEW