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NJ Foreclosures up 80% over prior year in January

foreclosureWhile the housing market continues to recover, many homeowners keep struggling to get back on their feet. According to RealtyTrac, the number of New Jersey homes entering foreclosure jumped by nearly 80 percent last month over the previous January:

“The monthly increase in January foreclosure activity was somewhat expected after a holiday lull,” Daren Blomquist, vice president at RealtyTrac, said in a statement, “but the sharp annual increases in some states shows that many states are not completely out of the woods when it comes to cleaning up the wreckage of the housing bust.”

Foreclosure proceedings began on 4,617 homes in New Jersey during January, RealtyTrac reported. That figure is up more than 79 percent from January 2012 and 62 percent from December 2013.

Nationally, foreclosure filings last month dropped 18 percent from the previous January.

NJ Continues to have one of the highest foreclosure rates in the country. You can read the full article from the Star Ledger here.

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