Over 5000 Homes in 2008 New Jersey Foreclosure Listings

Posted on July 29th, 2008 in New Jersey by Mary

Although the foreclosure filings are growing and there are more homes than ever before on New Jersey foreclosure listings, the average rate of increase has been slower than in the other parts of the nation. The filing of foreclosures has increased since the end of the second quarter in June by 5% vis-à-vis what we have seen in June of 2007. In spite of the increase in the number of homes in New Jersey foreclosure listings, the overall growth rate was less than the 53% increase that was felt all across the United States.

New Jersey

According to the figures in June 2008, foreclosures in New Jersey consisted of 5,000 filings that included auction notices, default notices, as well as bank repossessions. The rate of foreclosures was one in 695 homes in the state of New Jersey. As a result of this the state is now ranked 14th in the list of total growth in foreclosed properties. But however much or less the growth of foreclosures may be, it has affected not only humans but animals too.

The foreclosure listings in New Jersey are spilling over with new homes being pushed into the already comprehensive list each month, which means more neighborhoods bearing the ghostly look. The only positive thing amidst the chaos is that the New Jersey foreclosure filings have fallen by 32% since May, which is relatively faster than the 3% fall experienced by the Nation. As a result of this, there were fewer homes entering the New Jersey foreclosure listings in June as the state showed a low rate of bank repossessions vis-à-vis average U.S. figures from the remaining states. The foreclosure listings in New Jersey exist as a result of the foreclosure process and if you would like to get foreclosure information or comprehensive New Jersey foreclosure listings then you can get them easily with the help of online foreclosure brokers instead of spending time hunting around.

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