[KiwiHopeful]

This is the situation in our neck of the woods:

NH Foreclosures Jump as Exotic Loans' Rates Adjust

Hundreds of New Hampshire homeowners are losing their homes to foreclosure, victims of a nationwide crisis within the "subprime" mortgage industry.

And experts say it's going to get worse before it gets better.

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ccording to Real Data Corp., which publishes The Registry Review, there were 140 foreclosures recorded in New Hampshire in March alone, more than double the 67 recorded the previous March.

It's a disturbing trend. There were 157 foreclosures in January of this year (compared to 79 the previous January), and 130 in February (up from 41), according to Real Data Corp.

And the Mortgage Bankers Association recently reported that while subprime adjustable loans made up only about 8 percent of the mortgages written in New Hampshire in the last quarter of 2006, they represented nearly 60 percent of the foreclosures in that same period.

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We've been meeting with realtors this past week, and they seem to think this is actually not a bad thing for us. Because the lending market has tightened up, more affordable houses like ours are selling better because people have to be more modest in their homebuying than they needed to be a year ago. :fingerscrossed: