State of foreclosures in NH

This is the 5th consecutive month that foreclosures deeds in New Hampshire have been lower than those recorded in the same month of the prior year, according to the NH Housing Authority. However, the numbers for both deeds and notices reported for February 2011 are the highest since September of 2010, which suggests that the state's foreclosure problem may not be behind us. There were 286 foreclosure deeds recorded in February a 12% decrease for those recorded in February 2010, but a 55% increase from those recorded in January of this year. This is the second highest number of foreclosure filings recorded in over a decade, surpassed by only February of last year. Question is how will the rest of the year round out, with the slow economic recovery will foreclosures increase or decrease, only time will tell. But for one until the foreclosures come to real slow down the economic recovery will be quite slow to potentially stagnant. The fact is that when a home is sold or built it generates $60,000 into the economy, so hence the reason we need more homes to be moved. I will touch more on the aforementioned in my next blog.