New Jersey has Highest Percentage of Foreclosures in the Nation among Mortgaged Homes

Although first place is the ultimate goal in many situations, when it comes to foreclosure rates, it’s an unwelcome victory. According to CoreLogic, a leading provider in real estate data, New Jersey has the highest percentage of foreclosures among mortgaged homes at 5.5 percent. New York and Florida tied for second place at 4.1 percent. New Jersey also had the highest serious delinquency rate at 9.1%, according to the report, again surpassing both Florida and New York. Yet, overall the country’s foreclosure rate is dropping. The recent report states that 605,000 homes in the United States were in some stage of foreclosure as of October, 2014, compared to 875,000 homes in October, 2013, a 30 percent decrease. So why are foreclosure rates decreasing nationwide, but increasing here in New Jersey? One reason for this is New Jersey’s foreclosure process, says Affordable Housing Alliance foreclosure counselor, Linda Osborn.  


Affordable Housing Alliance Fiscal Year 2013 Impact Report from NeighborWorks

Last year, AHA helped 37 families and individuals become homeowners. Three hundred thirty seven individuals and families were provided counseling and education. Learn more about our impact in the community with this infographic.  

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