Foreclosures

Foreclosure sign
Jeff Turner via Flickr/CC 2.0 - http://ow.ly/LV7pt

In June, the New Hampshire Housing Finance Authority reported 181 foreclosures, the highest monthly total of 2015. Analysts thought it would be a one-time blip, but new figures from the NHHFA show July’s number was even higher – 188 foreclosures.

Foreclosure sign
Jeff Turner via Flickr/CC 2.0 - http://ow.ly/LV7pt

Foreclosure deeds rose in June in New Hampshire, but analysts say that was likely a one-time rise rather than the beginning of a trend.

Foreclosure sign
Jeff Turner via Flickr/CC 2.0 - http://ow.ly/LV7pt

New Hampshire saw the lowest single-month number of foreclosure deeds in nearly a decade last month.

The latest report from New Hampshire Housing shows 91 foreclosure deeds in the state for April 2015. The last time the number of foreclosures was under 100 was September 2006.

The number of foreclosure deeds in the first four months of 2015 is 38 percent below the number during the same period last year.

Foreclosure sign
Jeff Turner via Flickr/CC 2.0 - http://ow.ly/LV7pt

New Hampshire saw a slight uptick in the number of residential foreclosures in March, but the market as a whole continues to stabilize. 

Foreclosure sign
Jeff Turner via Flickr/CC 2.0 - http://ow.ly/LV7pt

HomeHelpNH, a state initiative to prevent foreclosures, says it’s helped about 750 households over the past two years. And state officials say there are many other households still working through the counseling process.

June Foreclosure Numbers Show Steady Improvement

Aug 6, 2014

In June, the state saw fewer than 150 foreclosure deeds filed--the first time that's happened since before the recession. That's according to a new report released by the New Hampshire Housing Finance Authority.  Foreclosure deeds in June were down 15 percent from May, and 30 percent from June of last year.  Foreclosure auction notices also were also down more than 40 percent from June of 2013.

Foreclosure, Haymarket, VA
Taber Andrew Bain / Flickr Creative Commons

New Hampshire’s housing market continues to recover—but slowly.  That’s according to new figures released by the New Hampshire Housing Finance Authority today.

Justin Shearer / Flickr Creative Commons

  Only 161 homes fell into foreclosure in November, the lowest single monthly total since 2007.

New data from the New Hampshire Housing Finance Authority shows foreclosures were down 25% through the first 11 months of 2013, compared to a year prior.

The report credits slow but steady improvements in the housing market and overall economy, and banks allowing more short sales for homeowners who owe more than their house is worth.

New Foreclosure Numbers Reveal Promising Trend

Jun 5, 2013

New New Hampshire housing numbers show 192 foreclosures in April.  That’s half of what the state recorded at the same time last year.  And it appears to be part of an ongoing trend.

New data from NH Housing Finance Authority shows 263 New Hampshire homes fell into foreclosure in September. That’s a 13% decline from 2011 levels.

The report says the numbers are a sign that the worst of the housing crisis could be behind us.  

But, cautious optimism aside, there is some tangible good news here: total foreclosures are on track to be their lowest since 2009. Foreclosure auction notices are also way down.

NH Housing Finance Authority

New Hampshire foreclosure numbers from July are up from the previous year. 

New Hampshire had 269 foreclosures in July. That’s up 13 percent from July of last year. However, it’s a decrease compared to the month before. In fact, it’s the third monthly decline in a row so far this year. The numbers come from the Mortgage Bankers Association’s National Delinquency Survey.

“Even though it’s higher than last July, it’s still more on a steady downward curve.”

New data from the New Hampshire Housing Finance Authority suggests the state’s housing market continues to show signs of a slow recovery.

The number of New Hampshire homes sold in May of this year jumped up from 2011-levels. That’s good. The bad news is that the average price of those properties is down two-point-four percent from a year ago, falling to $205-thousand dollars.

The 351 new foreclosures in May probably won’t help. Until the glut of properties on the market clears up, housing prices will remain low.

Cleveland resident Cedric Cowan was asleep on an overcast spring morning when the roaring sounds of splintering wood and falling rubble jolted him awake.

Cowan lives in a neighborhood hit hard by foreclosures. He initially thought someone was moving into the house on the other side of Fairport Avenue.

Instead, he woke that morning to find a crew tearing down the two-family house.

Over the course of three hours, an excavator smashed, crushed and ripped apart the abandoned house while a worker sprayed the rubble with a hose to keep the dust down.

RGotbaum / NHPR

Since 2005, the number of foreclosures in New Hampshire has increased 700 percent. Last year, more than 3,800 families were forced out of their homes due to foreclosure.

Real estate is about location, location, location. And foreclosure is no different. Depending on the state, it can take an average of three months or three years to process a foreclosure. And the disparity in how states deal with foreclosures is getting bigger.

The fate of thousands of troubled homeowners in Central Florida rests in the hands of Lee Haworth, foreclosure administrative judge for Florida's 12th Judicial Circuit. "We were hit pretty hard," Haworth says.

Photo by 'Images of Money' via Flickr Creative Commons

New data from the New Hampshire Housing Finance Authority paints a mixed picture of the State’s housing market. 

288 New Hampshire homes slipped into foreclosure in January. That’s a 22-percent decrease from the prior month, but still well above pre-recession levels.

“It is not a case of 'bam', we wake up one morning and the foreclosure issue is gone,” said Jane Law with NH Housing. She said the market is showing signs of a slow recovery. 

Not everyone wants to buy a mold-infested foreclosure, but Dan Grohs does.

He and his Realtor are walking through a three-bedroom house in Minneapolis. The copper pipes have been stolen by vandals and the heat doesn't work, but Grohs recently bid on the house — and he sees potential.

"It's got a nice flow to it," Grohs says as he moves through the home. "You walk in — living room, dining room, kitchen. Good spacious rooms."

Flikr Creative Commons / Sean Dreilinger

A report shows that home foreclosures spiked at the end of last year, up 35% from November.

Jane Law of New Hampshire Housing Finance Authority says foreclosures have been declining since their peak in 2010, and December’s jump might be an anomaly.

Law says, "The biggest factor is just mortgage companies are kind of clearing out some inventory before the end of the year, which is the end of their tax year usually" 

A year ago, banks admitted to abusing the foreclosure process — using fake signatures to power through foreclosure documents — a practice known as robo-signing. Now, five major banks and more than 40 state attorneys general have agreed in principle to a broad settlement that they say will help homeowners.

Home Foreclosures Edge Down

Dec 7, 2011

Home foreclosures continued to nudge down in October and the state’s housing agency is beginning to speak of the foreclosure crisis having turned a corner.

By historic standards, the number of people losing their homes is still high.  October saw about 260 households with that problem.  But that’s about 40 less than the month before and from the start of the year, the overall trend is down.

New Hampshire has a relatively high share of vacation properties….more than ten percent statewide, with heavy concentrations in resort areas. We’ll look at the impact of these get-away homes on property taxes, demographics, and jobs…also, how the second-home market may provide a bright spot in an otherwise struggling real estate sector.

Guests

Home Foreclosure Trends Improving

Nov 2, 2011

It looks now as though 2010 will be the high water mark for foreclosures.  The New Hampshire Housing Finance Authority predicts 2011 will see a slight improvement over last year.

 Jane Law with New Hampshire Housing says she’s truly glad the state is unlikely to match the level seen in 2010.

“When you look at the foreclosure notices, the foreclosure deeds.  All of it seems to be trending down.”

Grand plans for a huge resort community around the Mount Washington Hotel have fallen apart and a foreclosure auction is planned.

About 900 acres surrounding the Mount Washington resort – including two golf courses - are going on the auction block late in June.

 That includes about 500 wooded acres that the owners had hoped could be turned into a huge, upscale development with hundreds of homes and retail shops.