66 East Main Street, 3rd Floor Little Falls, NJ 07424

NJ – Foreclosures Up

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September 28, 2015

  • August Foreclosure Rate in NJ is 1 in every 539 homes.
  • Change from July:  down 4%Bank Owned
  • Change from 2014:  up 3%
  • The annual change in Bank-Owned Properties is up 295%

Foreclosures which have eased in other states may only be peaking in New Jersey.   

Foreclosures had been crawling through the slow process in New Jersey.

The slow processing includes a state judiciary that has tried to hold lenders accountable for improper processing/robo signing.   Only Hawaii’s process is longer.

Banks are becoming owners of properties more and more……