While New Jersey’s foreclosure rate is going down, it is still the highest in the nation. Real estate website Realty Trac says there are about 20,000 active cases which is comparable to the total prior to the financial crisis. The national rate of foreclosures is 1 in every 2,471 mortgages, while New Jersey’s rate is one in 1,006. The good news is that the foreclosure rate in the Garden State has dropped 24% since last year and there is a package of bipartisan bills passed by the legislature to address the problem. Read more
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