banks

ECONOMIC OUTLOOK: Bankruptcies and Foreclosures: A Coming Storm

ECONOMIC OUTLOOK: Bankruptcies and Foreclosures: A Coming Storm

It’s been a slow year for bankruptcy lawyers in NH, but Blackwood predicts that will soon end. “We’re in the middle of a tough nine to 15 months, then there’s going to be a giant wave.”

It is an assessment shared by other lawyers and analysts who crunch the numbers.

The infusion of government money into personal and business bank accounts; a federal moratorium on foreclosures and evictions that continues to Dec. 31; limited access to the courts; and what Blackwood describes as a general atmosphere of “forbearance” have all combined to keep the cork on a potential flood of foreclosures and bankruptcies.

ECONOMIC OUTLOOK: Banking & Finance

ECONOMIC OUTLOOK: Banking & Finance

Despite the economic uncertainty wrought by the COVID-19 pandemic and already low interest rates driven down further by the public health crisis, local banking leaders say 2020 wasn’t all bad.

“Still, we’ve had a record year for the bank in terms of growth, in terms of lending, in terms of earnings,” says Mark Bodin, president of Savings Bank of Walpole.