Modest improvement: that’s how a new report from the New Hampshire Housing Financing Authority sums up 2012.
Two hundred and ninety-seven homes fell into foreclosure in December, an 18% jump from a month earlier. But total foreclosures for the year are down sharply from their peak in 2010.
Jane Law with NH Housing says the overall economy is still driving a housing recovery.
“We’re keeping our fingers crossed that the economy continues to slowly improve, so that the foreclosure patterns can slowly improve as well.”
About 7% of homeowners are currently behind on mortgage payments. That’s more than twice the pre-recession rates.