Forclosure

What the Heck’s going on with Foreclosures? Why this Spike?

Written on November 15, 2016 at 9:49 am

Foreclosures suddenly spike most since the last Housing Bust The total number of homes with foreclosure filings jumped 27% in October from September, when they’d been at the lowest level since 2006. It was the biggest jump in monthly foreclosure filings since August 2007. Read more. (By Wolf Richter • November 10, 2016) Read More...

Beware the Zombie Foreclosure

Written on August 7, 2014 at 1:28 pm

Walking Dead? Beware the Zombie Foreclosure:  Just when you thought the exotic issues regarding residential default had all been discovered, discussed and litigated, here comes the so-called zombie foreclosure. . . . Specifically, RealtyTrac defines the phenomenon as “properties that have started the foreclosure process but have never been foreclosed and the homeowner has vacated.”  Read More Read More...

NJ is one of 3 states experiencing extreme backlog of foreclosures

Written on July 23, 2013 at 3:04 am

While the housing market is on the mend — with progress even in the hardest-hit states — the backlog of homes in foreclosure and real-estate owned properties is still clogging the pipeline, analysts claim. Read More...

New foreclosure law effective April 1, 2013

Written on March 25, 2013 at 3:08 am

On December 3, 2012, Governor Christie signed a new foreclosure law that becomes operative April 1, 2013. This Act (P.L. 2012, c.70) permits lenders to foreclose mortgages using an expedited summary action if the encumbered residential property is deemed to be abandoned and vacant. Read More...

4 million borrowers eligible for foreclosure review

Written on November 2, 2011 at 3:30 am

Check out this November 1st article from Washington Post: 4 million borrowers eligible for foreclosure review By Brady Dennis  More than 4 million borrowers who have faced foreclosure since early 2009 will have the chance to have their cases reviewed for potential wrongdoing, federal regulators and some of the nation’s largest mortgage servicers announced Tuesday.   Read More...