'Promising' foreclosure trend reported in N.H.

In what the New Hampshire Housing Finance Authority called a "promising trend" toward recovery, the agency reported a decline in foreclosures in September from both the previous month and the same month last year.

There were 263 foreclosure deeds recorded in New Hampshire in September, a 13 percent decrease from the 301 foreclosures recorded in September 2011, according to figures released by the authority. That was also a 6.7 percent decrease from August 2012, when 282 were recorded.

"With signs of improvement in overall economic conditions, as well as some improvement in the statewide and regional housing markets, there is reason to believe the number of new foreclosures in New Hampshire will continue to decline," the authority said.

Also promising was the monthly decline in foreclosure auction notices, which signal the number of households that are in danger of entering foreclosure. There were 477 such notices in September — a 23 percent decline from the 620 recorded in August, and a 25 percent decline from September 2011.Cumulatively through September, both foreclosure and foreclosure auction notice activity has declined in 2012 from the same period in previous years.

Through September 2012, there have been 6.8 percent fewer foreclosure auction notices filed than there were in the same period in 2011.Foreclosure activity for the first nine months of the year also declined — down 4 percent from the same period in 2011 and 13 percent from 2010."If the trend continues for the final quarter of the year, in 2012 New Hampshire could see the lowest number of foreclosures since 2009," the authority said. "While still potentially approaching 3,750 foreclosures, this year's numbers could be a sign that the worst truly is behind us.”

Categories: Real Estate & Construction