New Hampshire Foreclosure Activity Rises in First Quarter

Statewide foreclosure filings up from last year

March numbers down from a month earlier; down from a year ago

 

Foreclosure activity in New Hampshire rose 26 percent during the first quarter of 2010 and was up 16 percent from the same period last year. In all, the state reported 2,588 properties with foreclosure filings during the quarter.

 

In March the state reported 795 properties with foreclosure filings, a 4 percent decrease from the previous month and 4 percent below the level reported in March 2009. One in every 751 New Hampshire housing units received a foreclosure filing during the month, the 28th highest state foreclosure rate.

 

“The number of foreclosure filings in New Hampshire rose in the first quarter of 2010, even though activity decreased between February and March, and was lower than in March of last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within the state remained below the national average at 7 percent as temporary hiring increased and a trend toward short-term engagements turning into permanent employment emerged.”

 

One in every 231 New Hampshire housing units received a foreclosure filing during the quarter — the 24th highest state foreclosure rate in the nation.

 

Belknap County tops state in foreclosure rate for the first quarter

Belknap County had the highest county foreclosure rate in New Hampshire during the first quarter, with one in every 186 housing units receiving a foreclosure filing. Hillsborough County had the second highest foreclosure rate, with one in every 190 housing units receiving a foreclosure filing. Strafford County came in third, with one in every 219 housing units receiving a foreclosure filing. Rockingham County had the fourth highest foreclosure rate, with one in every 226 housing units receiving a foreclosure filing.

 

Hillsborough County led the state in total foreclosures for the first quarter

Hillsborough County led New Hampshire with 855 properties with foreclosure filings during the first quarter. Rockingham County had the second highest foreclosure total, reporting 550 properties with foreclosure filings. Merrimack County came in third, reporting 259 properties with foreclosure filings for the quarter. Strafford County was fourth, reporting 231 properties with foreclosure filings. Belknap County rounded out the top five in fifth, reporting 193 properties with foreclosure filings.

 

State a minor contributor to quarterly foreclosure total

New Hampshire represented less than 1 percent of the 932,234 properties with foreclosure filings reported nationwide for the first quarter of 2010. Total U.S. activity grew by more than 7 percent from the previous quarter and was 16 percent ahead of the first quarter 2009. One in every 138 U.S. housing units received a foreclosure filing during the quarter.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

New Hampshire Top Foreclosure Rates By County – Q1 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

121,367

183,432

267,159

102,332

257,944

932,234

138

n/a

n/a

New Hampshire

0

0

1,680

0

908

2,588

231

0.60

n/a

 

 

 

 

 

 

 

 

 

 

Belknap

0

0

114

0

79

193

186

0.74

1.24

Hillsborough

0

0

575

0

280

855

190

0.73

1.21

Strafford

0

0

142

0

89

231

219

0.63

1.05

Rockingham

0

0

374

0

176

550

226

0.61

1.02

Merrimack

0

0

179

0

80

259

239

0.58

0.96

 

 

New Hampshire Top Foreclosure Totals by County – Q1 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q4 2009

% Chg Q1 2009

 

 

 

 

 

 

 

 

 

 

United States

121,367

183,432

267,159

102,332

257,944

932,234

138

7.23

16.02

New Hampshire

0

0

1,680

0

908

2,588

231

26.37

16.31

 

 

 

 

 

 

 

 

 

 

Hillsborough

0

0

575

0

280

855

190

23.20

20.93

Rockingham

0

0

374

0

176

550

226

30.64

9.56

Merrimack

0

0

179

0

80

259

239

23.33

27.59

Strafford

0

0

142

0

89

231

219

32.00

19.07

Belknap

0

0

114

0

79

193

186

37.86

21.38

 

 

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