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Jersey’s 16th in Foreclosure Filings
calif. | 1 week 2 days ago | Comments 2
IRVINE, Calif. — According to a report from an online foreclosure company, one in every 265 New Jersey households filed a foreclosure notice in the first quarter of this year.
California-based RealtyTrac Inc. released a report April 29 that listed 13,104 properties in the state in various stages of foreclosure – default notices, auction sale notices and bank repossessions.
New Jersey was the 16th ranked state in rate of foreclosure notice per household. Nevada finished first with one in every 54 households receiving a foreclosure notice.
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Sun, 05/11/2008 - 10:25am
This is just the beginning of the foreclosures, things are going to get much worse. The Alt-a loans haven't even started yet and most of the Bank Owned Properties are not on the market yet. Both of these will drive prices down for many years.
Why did the prices go up from 2002 - 2006? Bad loans created artificial demand. Those loans are gone now, there is nothing to keep prices up anymore.
Tue, 05/06/2008 - 1:42pm
One way to help beleagured home owners is to keep taxes low.
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