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Update on vacant properties, zombie foreclosures

Housing news nationally continues to improve over successive reporting periods, with the dismal reality linked to the Great Recession of recent years having largely dissipated.

That is not to say, of course, that property woes for homeowners across the country – and certainly in New Jersey – have now conclusively disappeared in lieu of absolute and persistent upsides. A recent industry report on American home ownership relevant to the current calendar quarter reveals that select urban pockets nationally continue to struggle a bit with housing challenges. Again, New Jersey features prominently in that category.

In fact, the Garden State is still in marked recovery mode from the peak period of vacated properties and so-called “zombie” foreclosures. Reportedly, it still has some challenges to work through, being ranked fifth nationally among states having the most vacant homes.

Still, there is marked good news to note and even cheer about. The state no longer leads the list of states with the highest share of zombie foreclosures nationwide. In fact, it is recently not even among the top handful of entrants confronting that problem.

The proven real estate team at the Somerville Law Office of Rajeh A. Saadeh has for year diligently safeguarded the legal rights and interests of New Jersey homeowners challenged by home-linked financial difficulties. Our firm stands ready always to advocate for diverse and valued clients who need best-case solutions to resolve mortgage and related problems.

We are proud to craft tailored strategies that optimally benefit the individuals and families relying upon us. We welcome contacts to the firm and every opportunity to represent clients with empathy and effectiveness.



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