From the Bridgeton News:
Housing foreclosure rates are rising quickly throughout Cumberland County, with rates in Bridgeton, Millville and Vineland already surpassing the national average, according to representatives at the Tri-County Community Action Agency and Affordable Homes of Millville Ecumenical (AHOME).
The two groups, centered in Bridgeton and Millville, respectively, have joined together with 10 other housing counseling agencies across the state to help residents avoid foreclosure.
AHOME Executive Director Donna Turner said her office has received an “incredible” increase in the number of new clients over the past month.
“We averaged one client every two weeks or so, but now we’re getting new people coming to us by twos and threes every week,” said Turner. “They’re mostly 60 days or more behind in their payments and in default.
“It’s just incredible, this increase. We’re going to need to hire staff.”
According to Turner, more than 168 Millville homes are currently in pre-foreclosure — in which the residents have missed at least one payment. Sixty-six have already been taken by banks and 14 have gone up for auction.
In Bridgeton, 114 homes are in pre-foreclosure, with 71 taken by banks and 10 sold in auctions.
And more than 230 homes in Vineland are in pre-foreclosure, with already 84 picked up by banks and 20 sold in auctions.
“We expect these numbers to only increase,” added Turner.
RealtyTrac, one of the largest online providers of foreclosure listings in the country, places the foreclosure rate in Bridgeton at more than one in every 1,200 homes, using United States Census numbers. The national average is about one in every 5,000 homes.
In Millville, between one in 300 to one in 600 homes have fallen to foreclosure. It is the same story in many parts of Vineland, especially center city, its most affected area. East Vineland does slightly better than the rest of the city, roughly mimicking Bridgeton’s numbers.