New Hampshire Foreclosure Activity Up in First Quarter

Foreclosure filings up 11 percent from Q4 2010, down 19 percent from a year ago

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 2,099 New Hampshire properties during the first quarter of 2011, up 11 percent from the fourth quarter of 2010, but still 19 percent below the level reported for the same quarter last year, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

The state posted the 20th highest foreclosure rate in the nation, with one in every 286 New Hampshire housing units receiving a foreclosure filing during the quarter. Foreclosure filings were reported on 627 New Hampshire properties in March, a 9 percent decrease from February and down 21 percent from March 2010. Unemployment continues to fall as well, ending at 6.3 percent in March. One in every 957 New Hampshire housing units received a foreclosure filing in March, the 27th highest state foreclosure rate in the nation.

 

Hillsborough County reports state’s top foreclosure rate in the first quarter

Hillsborough County posted highest foreclosure rate in New Hampshire during the first quarter of 2011, with one in every 241 housing units receiving a foreclosure filing. Rockingham County had the second highest foreclosure rate, with one in every 251 housing units receiving a foreclosure filing. One in every 283 housing units in Strafford County received a foreclosure filing, the third highest foreclosure rate in the state for the quarter.

 

Hillsborough County also reports state’s top foreclosure activity in the first quarter

Hillsborough County also led the state in foreclosure activity, reporting 678 properties with foreclosure filings during the quarter. Rockingham County had the second highest total in the state, reporting 497 properties with foreclosure filings. Third highest total was tallied in Merrimack County, where 216 properties with foreclosure filings were reported. Reporting 180 properties with foreclosure filings for the quarter, Strafford County registered the fourth highest total in the state. Fifth highest was Belknap County, where 118 properties with foreclosure filings were reported for the quarter.

 

State a minor contributor to nation’s foreclosure total in first quarter

New Hampshire accounted for less than 1 percent of the 681,153 properties with foreclosure filings reported nationwide for the first quarter of 2011. Total U.S. activity decreased almost 15 percent from the fourth quarter of 2010, and was down 27 percent from the level reported for the same quarter in 2010. One in every 191 U.S. housing units received a foreclosure filing during the quarter.

 

“The nation’s housing market continued to languish in the first quarter, even as foreclosure activity fell to a three-year low,” said James J. Saccacio, chief executive officer of RealtyTrac. “Weak demand, declining home prices and the lack of credit availability are weighing heavily on the market, which is still facing the dual threat of a looming shadow inventory of distressed properties and the probability that foreclosure activity will begin to increase again as lenders and servicers gradually work their way through the backlog of thousands of foreclosures that have been delayed due to improperly processed paperwork.”

 

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 2011

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

97,901

99,211

216,867

52,128

215,046

681,153

191

n/a

n/a

New Hampshire

0

0

1,269

0

830

2,099

286

0.67

n/a

 

 

 

 

 

 

 

 

 

 

Hillsborough

0

0

423

0

255

678

241

0.79

1.19

Rockingham

0

0

311

0

186

497

251

0.76

1.14

Strafford

0

0

92

0

88

180

283

0.67

1.01

Merrimack

0

0

130

0

86

216

289

0.66

0.99

Belknap

0

0

80

0

38

118

306

0.62

0.93

 

 

 

 

 

New Hampshire Top Foreclosure Totals by County – Q1 2011

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q4 10

% Chg Q1 10

 

 

 

 

 

 

 

 

 

 

United States

97,901

99,211

216,867

52,128

215,046

681,153

191

-14.76

-26.93

New Hampshire

0

0

1,269

0

830

2,099

286

10.71

-18.89

 

 

 

 

 

 

 

 

 

 

Hillsborough

0

0

423

0

255

678

241

9.53

-20.70

Rockingham

0

0

311

0

186

497

251

17.77

-9.64

Merrimack

0

0

130

0

86

216

289

8.00

-16.60

Strafford

0

0

92

0

88

180

283

11.80

-22.08

Belknap

0

0

80

0

38

118

306

-1.67

-38.86

 

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