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Report: End of Year Spike in Home Foreclosures

Flikr Creative Commons / Sean Dreilinger

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

Jane Law of New Hampshire Housing Finance Authoritysays 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" 

Law notes while there were 2% fewer foreclosures in 2011 than 2010, the recovery in the home market will be slow.

She says home prices might decline slightly further before rebounding, and it could remain a buyer’s market for some time to come.

Sam Evans-Brown has been working for New Hampshire Public Radio since 2010, when he began as a freelancer. He shifted gears in 2016 and began producing Outside/In, a podcast and radio show about “the natural world and how we use it.” His work has won him several awards, including two regional Edward R. Murrow awards, one national Murrow, and the Overseas Press Club of America's award for best environmental reporting in any medium. He studied Politics and Spanish at Bates College, and before reporting was variously employed as a Spanish teacher, farmer, bicycle mechanic, ski coach, research assistant, a wilderness trip leader and a technical supporter.
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