Is this a glass-half-full type of thing or a half-empty scenario that continues to plague New Jersey in seemingly implacable fashion?
The subject matter is foreclosure activity in the Garden State, which is immediately bathed in adverse light via reference to some sobering numbers that underscore its magnitude as a truly material problem across the state.
A recent article on foreclosures manifestly reveals that, providing empirical evidence that housing challenges continue to be stark for many New Jersey homeowners. That piece points out right away that the state can’t seem to escape its status “as the No. 1 state in the nation for the percentage of properties in the foreclosure process.”
In fact, relevant data indicate that the foreclosure rate in New Jersey topped all other states last month, during the second quarter of 2018 and, indeed, for the first half of the year.
That’s dismaying news, indeed, but it needs to be reported with just a bit of proverbial sugar, to wit: the rate has actually dropped by a full two percentage points from one year ago. Admittedly, that’s not much, but it does spell progress.
Hopefully, things will continue to get better. In fact, there are a number of economic-linked factors (e.g., optimistic business reports and increased hiring) suggesting that they will.
In the interim, though, obstacles of high order continue to face many homeowners across the state. Those include auctions, default notices and lender repossessions.
A proven real estate attorney who routinely works with passion, empathy and deep industry knowledge on behalf of challenged individuals and families can help clients confront and optimally deal with such hurdles.
We stress to any homeowner under pressure at The Law Office of Rajeh A. Saadeh in Somerville that “you have options.” We welcome contacts to the firm and the opportunity to provide further information.