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Re: NJ now tops nation in foreclosure rates
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How does someone find out which bank owns a property under foreclosure, do I have to go to the county tax office?

Posted on: 2014/5/16 0:12
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Re: NJ now tops nation in foreclosure rates
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Welcome to New Jersey, the foreclosure State .... Its a bitter pill for a presidential candidate!


Posted on: 2014/5/15 23:46
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Re: NJ now tops nation in foreclosure rates
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Does anyone know, either from reports or personal experience, if banks are pursuing personal recourse against defaulters? NJ is a personal recourse state but the practice had been not to pursue the debt beyond the collateral.


Posted on: 2014/5/15 18:45
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Re: NJ now tops nation in foreclosure rates
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Sounds like with the improvement in the market, banks and other mortgage holders are finally starting to clear the shadow inventory off their books.

There are a lot of properties that were eligible for foreclosure years ago, but the banks have declined to initiate foreclosure on. In part due to the point above, but also due to the fact that the paper-trail got so screwed up, the lien holder at times couldn't prove in court they actually held the lien.

Posted on: 2014/5/15 17:51
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Re: NJ now tops nation in foreclosure rates
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How can we be surprised? And we're just about at the bottom of states receiving money back from DC.

http://www.nj.com/news/index.ssf/2014 ... _says.html#incart_m-rpt-1

Posted on: 2014/5/15 17:28
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NJ now tops nation in foreclosure rates
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The percentage of New Jersey homes in foreclosure rose during the first quarter, sending the state past Florida with the highest share of mortgages in foreclosure in the nation.

According to the Mortgage Bankers Association, 8.12 percent of all mortgaged homes in New Jersey were in the process of foreclosure during the first three months of the year. While that was down from about 9 percent a year earlier, New Jersey was the only state to see an increase from the previous three months, the report said.

The share in Florida, which had the highest percentage since the housing crash in 2008, dropped from 11.4 to 7.62 percent during the first quarter.

More Here

Posted on: 2014/5/15 16:51
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