Foreclosures Declining Except in NJ

Foreclosures Declining Except in NJ

A monthly report by CoreLogic showed the number of homes that foreclosed nationwide dropped by 17 percent from last year.  However, figures for New Jersey went up more than a percentage point, ranking New Jersey behind only Florida in the number of homes in foreclosure.  But the numbers may be deceiving as foreclosures in New Jersey have to go through the courts, which is very time-consuming and allows the owner to appeal. The average number of days a home is in foreclosure in New Jersey is more than 900, compared to Texas which is about 97 as it does not involve the courts, according to, which monitors foreclosures.

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Phone: 201-669-7520
Dated: December 10th 2012
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