The light at the end of the tunnel is a train…

From the Star Ledger:

N.J. foreclosure rate among highest in nation, but dip may signal ‘light at end of tunnel’

Foreclosures activity in New Jersey fell last month, according to a new report, but the state’s foreclosure rate still remains near the highest in the country.

New Jersey had more than 4,600 foreclosure filings in January, a decrease of 63 percent from the previous month, the RealtyTrac report shows, and a dip of 20 percent from the same time last year. The decline in filings came as the state experienced a sharp dropoff in the number of homes beginning the foreclosure process. New Jersey had roughly 2,100 foreclosure starts in January, an 80 percent drop from the previous month and a 54 percent decline from January 2014.

Daren Blomquist, vice president at RealtyTrac, an Irvine, Calif.-based firm that tracks housing data, said that big drop may be a “light at the end of the tunnel” for a state working through a “massive backlog” of distressed properties.

“We’re getting closer to the beginning of the end of this working through the backlog,” he said.

The number of filings dropped off significantly in New Jersey in 2011 as the courts and lenders responded to reports of irregular foreclosure practices, creating a logjam that has been slow to clear. The foreclosure process in New Jersey is also time-consuming.

Peter Reinhart, director of the Kislak Real Estate Institute at Monmouth University, said “one month does not a trend make” but he said the state should be nearing an end on this issue.

Reinhart noted that the backlogs lenders had in foreclosures have been working their way through the judicial process. Also, he said, “the market has improved a lot” and “job growth, while still behind a lot of states, is definitely better.”

The foreclosure rate in Atlantic City ranked the highest nationwide among metropolitan areas with a population of at least 200,000. One in every 338 housing units had a foreclosure filing in January in that area, which has been dealing with the fallout from shuttering casinos and disappearing jobs.

Within New Jersey, four of the five counties with the highest foreclosure rates sit in the southern half of the state. Atlantic County tops the list followed by Burlington, Sussex, Camden and Gloucester counties. Hudson County posted the lowest foreclosure rate in the state in January, according to data from RealyTrac.

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74 Responses to The light at the end of the tunnel is a train…

  1. Mike says:

    Good Morning New Jersey

  2. Libturd in the City says:

    Second!

  3. Libturd in the City says:

    From yesterday’s thread…

    My cheap beer of choice was Carling Black Label. In the 80s it was brewed in America with a supposed Canadian recipe. It tasted just like Moosehead. For those who never had a Moose, it was a bit like a Labatt’s but with a bit of that stinky barley aftertaste that was prominent in the cheaper blue-collar Milwaukee brews such as Miller or Schlitz. It was not quite as cheap as Old Milwaukee or Keystone, but was easily half the price of Bud and Coors. They don’t make it anymore in the states, but I’ve seen it up in Canada when I’m there. And I still get one when I’m there just to relive the memories. I’m always amazed at how the sense of smell/flavor can evoke certain memories.

  4. Libturd in the City says:

    How anyone could drink Mickey’s or Genesee was beyond me. I just googled them and it appears they were both made by the same brewer. I am not surprised.

  5. leftwing says:

    Matts. Of the reknowned morning after “Matts splats”. And inventor of the beerball.

    The original beerball was made of white solid plastic likely 5 gauge thickness. Of course after emptying a number of them at a party we decided to have a soccer game with one. My big toe is still busted up nearly beyond recognition.

  6. Anon E. Moose says:

    Lib, you can’t say “Moose”… it throws off my watch filters. :-D

    TCBY (and not the yogurt place — This Could Be Yours) for a mere $12.85 MM.

    http://www.zillow.com/homedetails/450-Mendham-Rd-Bernardsville-NJ-07924/2137273086_zpid/?utm_source=email&utm_medium=email&utm_campaign=emm-0215_fairytalehomes-0212_berndarsvillearrow

  7. leftwing says:

    Ramblings on this morning’s news

    So now we have the “Goof in Chief”. CBS This Morning has a segment on Obama making a ‘silly’ video to promote ObamaCare to Millenials and younger.

    Better than telling them the truth I guess….”Hey guys, most generations before you took no healthcare coverage while they were young, healthy, and single but we’re going to saddle you with a huge mandatory new government program that taps you for a grand or two a year to subsidize the dependent class in a massive bait and switch. Welcome to the first day of the rest of your lives.”

    Just what we need at this point in time. From Isis radicals to the Greek and German populations I’m sure the reel of the leader of the free world shooting fake jumpshots, playing with aviator glasses, making juvenile faces in the mirror, and taking selfies is both awe inspiring and confidence building.

    Embarrassing lightweight.

  8. Liquor Luge says:

    In terms of bang-for-buck, you really can’t beat malt liquor.

  9. Liquor Luge says:

    Olde English or Colt 45 is a way better drink than Genny, Mickey’s, etc.

  10. Liquor Luge says:

    I would love to have the PR job of rehabbing malt liquor’s identity.

  11. Libturd in the City says:

    It’s been done already.

    http://tinyurl.com/ml-rebrand

    I once drank a 40 of this krap for $20. The beer sh1ts I got was not worth it. Though the aroma of my farts was extraordinary. And with that…back to work.

  12. Libturd in the City says:

    I see Steel Reserve made the top 5 on this very important list.

    https://shinjef.wordpress.com/2007/12/10/the-10-worst-beer-shit-beers/

  13. Liquor Luge says:

    Back in my cooking days, nothing beat an ice cold Colt 45 after a hot night on the line.

  14. Libturd in the City says:

    Moose,

    It looks like they have some trouble with Tribbles in the kitchen of that oversized POS cape you posted.

  15. Comrade Nom Deplume, for once thankful he isn't in Boston. says:

    Haffenreffer, aka “green death” was our shit beer of choice.

  16. Libturd in the City says:

    Nom,

    It appears the lord is not a Packer’s fan.

  17. Libturd in the City says:

    Whoops, meant Patriots fan.

  18. Essex says:

    8. But the pain associated with it’s consumption is…….

  19. anon (the good one) says:

    @RexHuppke: The GOP’s “catastrophizing.” We were promised tyranny but all we got was a recovering economy and a decent co-pay.

  20. rightwing says:

    @JuddLegum: As predicted, Obamacare has destroyed the economy

  21. Libturd in the City says:

    Thanks to Obamacare, my insurance went up. On the bright side, my investment in the huge for-profit insurance companies easily made up the difference. Thank you Obama. And thankyou Anon for putting Obama where he is.

    Though, Stephen Hemsley, who pocketed a cool 49 million in compensation last year as CEO of United Healthcare is probably slightly more appreciative of Obamacare than I am.

    Obama, doing his part to help the 1%.

  22. FKA 2010 Buyer says:

    Seasonal jobs but it’s something.

    Home Depot: hiring about 80,000 workers for spring; 1,650 in NJ

    NEW YORK – Home Depot Inc., the nation’s largest home-improvement retailer, says it has started to hire more than 80,000 seasonal workers for the spring selling season, the company’s busiest period.

    That’s level with the last few years. The positions include both part-time and full-time workers in stores and distribution centers.

    The Home Depot is hiring 1,650 associates in 36 stores in New Jersey.

    http://www.northjersey.com/news/business/home-depot-hiring-about-80-000-workers-for-spring-1-650-in-nj-1.1268037

  23. Hughesrep says:

    22

    They don’t pay anything for those jobs.

    When I ran ran a Lowes store (been ten years) I used to bump employees about 25% April through August. Lots of hot college girls as part time cashiers, people to deal with plants in outside lawn and garden, and big dumb jocks in lumber.

    I think we started them around $8 per hour. Doubt it’s changed much.

  24. chicagofinance says:

    Mushnick:
    ………Perhaps it was kismet, then, that the Little League team to replace the removed Chicago team as last year’s U.S. champ is from Las Vegas. Regardless, this sad ending provided Jesse Jackson the opportunity, and with it the stage, to again tell his admirers what they want to hear rather than need to hear. Yep, given the Chicago team was black, forget the rules and the paperwork rigging, it’s racism!
    Given a chance to teach and preach integrity to kids, Jackson instead told them they’re victims of racism.
    “Is this about [LL rules on regional residence] boundaries or about race?” he simultaneous asked and accused.
    Instead of presuming adults can think clearly themselves — that they have the capacity to distinguish right from wrong — he again urged them into the darkness. Instead of telling a plain truth — the kids were victims of the dishonesty of the adults who rigged the team — he portrayed their victims — the kids — as victims of a rigged white-racist system.
    Does anyone in his or her right, logical mind believe the LL bosses in Williamsport, Pa., who were so welcoming of these kids from Chicago, then conspired to reach a racist solution to humiliate them? The plan was to do racist dirt to these kids thus invite the predictable responses from the usual racial spray shooters, carpet bombers and crackpots?
    Or did Jackson expect the LL folks to ignore or change the rules for black kids? Would Jackson prefer a rule, “Black teams can cheat — falsify documents — all others must play by the rules.” Is integrity for white kids, only? Is that his sense of equality?
    How can a spiritual, political and social leader pass on an opportunity to preach such a valuable lesson to 12- and 13-year-olds on integrity? How can he pretend not to know that those who cheated and humiliated those the kids were their adult leaders? Or is such a truth a disservice to his harmful-to-all self-interests?
    Every time Jackson grabs the sports spotlight he plays African-Americans for morons. When the NBA suspended Dennis Rodman for the unprovoked attack of a courtside photographer, Jackson claimed the NBA was “stripping Rodman of his dignity.”

    Was Jackson unaware Rodman’s entire public persona was predicated on having no dignity? Did he think America hadn’t seen the video, didn’t know the photographer he kicked was African-American? The man’s name was Eugene Amos. What about his dignity?
    When Joe Frazier died, Jackson rushed to Philadelphia to grab the pulpit, eulogizing Frazier as a man of great character and dignity. But where was Jackson when it really counted, when Muhammad Ali was daily stripping Frazier of his dignity, trashing Frazier as ignorant and “a gorilla?” Or was Ali too popular among blacks for Jackson to censure him? Regardless, Frazier’s dignity was more valuable to Jackson when Frazier was dead than alive.
    Jackson strongly suggested that the Las Vegas LL team should not accept the 2014 LL championship trophy because it “did not earn it.” Really? Then who does? The team that was rigged? Imagine, this from a man who lectures the world on justice.
    Integrity has become mothers’ milk for saps, for losers. Proof to the contrary has become rare, threatened by extinction. Just keep the ball rollin’.

  25. Anon E. Moose says:

    Lib [14];

    Actually my thought was that even with a full-time house cleaning staff (de rigeur for homes and neighborhoods of this stature, nach), keeping that mess dust-free is going to damn near impossible. Then the shit rains down on the massive cooktop island. Bon appetit!

  26. Comrade Nom Deplume, for once thankful he isn't in Boston. says:

    [16] lib

    I beg to differ

  27. NJGator says:

    Nom 26 – Boston has gotten so much snow that even my public school teacher friends there are crying.

  28. Comrade Nom Deplume, for once thankful he isn't in Boston. says:

    [24] chifi

    Then there’s this silliness.

    http://m.espn.go.com/nfl/story?storyId=12317753

    The ironic thing to me is that the Eagles organization and the calendar maker are going to be called out because they did NOT give any thought to race when they were simply putting together a calendar.

  29. Comrade Nom Deplume, for once thankful he isn't in Boston. says:

    I’ve noticed that having the Fitbit app running is killing my battery life.

  30. Comrade Nom Deplume, for once thankful he isn't in Boston. says:

    [27] gator

    Keeps the riffraff out

  31. Libturd in the City says:

    That’s rich Nom. If Riley Cooper was in any profession besides sports, he would have been fired on the spot. No amount of sensitivity training would have saved him. But in the NFL, the almighty dollar trumps what is acceptable to the rest of the world. I suppose sports fans are just another color of fundamentalist. Lord knows, not a single Eagle’s fan gave up their season tickets in protest of Riley’s cottony soft slap on the wrist.

  32. Libturd in the City says:

    “I’ve noticed that having the Fitbit app running is killing my battery life.”

    Maybe it’s struggling to record activity?

  33. anon (the good one) says:

    “Let’s try to imagine that Craig Stephen Hicks, who massacred three of his neighbors in a Chapel Hill condominium on Tuesday, really did it for no other reason than to settle a difference of opinion about parking-lot etiquette.

    What’s hard to get one’s mind around is that everyone who’s singing this tune—the police, the wife, the prosecutor—seems to think that it’s reassuring. Getting blown away by a neighbor just because he’s pissed off at you for some ridiculous reason has become the equivalent of a natural disaster in our country, with our gun culture. It’s got nothing to do with the killer’s ideology, or with the victim’s identity. That’s the thinking. And, with this “parking” alibi, we’re being asked to imagine that these killings are a private tragedy, not some big public deal—not terrorism, not even like terrorism. We’re being told to believe that the vigilante killing of three young Americans is socially and politically meaningless.

    More Americans are killed each year by the shooters in our midst like Craig Stephen Hicks than have ever been killed by all the jihadist terrorist outfits that have ever stalked this earth. That’s the price, or so the rhetoric goes, of our wild freedom. But maybe to understand the Chapel Hill murders better we need to imagine how it would be playing out if it were the other way around—if some gun-toting Muslim, with a habit of posting hate messages about secular humanists, took it upon himself to execute a defenseless family of them in their home.”

  34. Comrade Nom Deplume, for once thankful he isn't in Boston. says:

    [32] lib

    Yes. Struggling to keep up.

  35. Comrade Nom Deplume, for once thankful he isn't in Boston. says:

    [31] lib

    Not an Eagles fan. So I haven’t followed him or the team I recall there was some flap but I ignored it. My point was that, in all probability, someone putting pictures with months didn’t do the requisite sensitivity vetting that virtually every action or utterance must now be subjected to. In short, it is now considered racially insensitive to NOT consider race on all that we do or say.

  36. Libturd in the City says:

    Nom,

    We elected a black president to two terms. The race card is rapidly losing its value in our society except among the most sympathetic non-thinkers out there. Like Anon for example. Or the tiny minority of citizens who choose to pay attention to media whores such as Jessie Jackson or Al Sharpton.

  37. Comrade Nom Deplume, for once thankful he isn't in Boston. says:

    [36] lib,

    It loses currency only when Enough of those who don’t have racism in their hearts but are accused of insensitivity tell the perennially offended “I don’t give a Fcuk that you’re offended”. Until then, there are those who will seek to remain relevant and even profit from manufactured instances of so-called racism.

  38. Comrade Nom Deplume, for once thankful he isn't in Boston. says:

    A good example would be the attempted boycott of Chick-fil-A a couple of years ago. Not only did the company essentially ignore the hate, enough people staged a counter protest, or buy-cott, that it convinced the left wing haters that they couldn’t bring the company to heel.

    Unless I don’t like/want/need the product or service, I will patronize any business that the left attacks so long as price is competitive. In fact, I never ate at a Chick-fil-A until the left started attacking them. It’s actually not bad, and my girls like the food. Certainly better than a lot of the other options out there. So I am actually grateful to the left for turning me on to a business that I prefer now over others.

  39. Libturd in the City says:

    Absolutely.

    The only racist thing about what happened to that Chicago LL baseball team is that their league leaders claimed racism.

    This really is not that different than how every progressive liked to proclaim you were a racist if you did not support Obama prior to his election.

    I’ve always found that the most common people to cry racism are those looking for racism where it does not exist.

  40. JJ says:

    You would think black people would love baseball, getting paid millions to smack white balls with a wooden stick

  41. JJ says:

    Chifi – your dire predictions about my oil bond buying freezy including PBR bonds in January was so “after the falling knife already hit the ground”

    If anything the accounting crisis, oil price collapse, scaling back on excess capex and firing of CEO and sr. mgt at PBR is a good thing long term. And bond holders think long term. If anything stunts to pop up common stock is Arsenic to bond buyers.

  42. FKA 2010 Buyer says:

    I don’t think it is racist either but if my team was whipped 42-3 I would be mad too.

  43. JJ says:

    Whipped!!

    FKA 2010 Buyer says:
    February 13, 2015 at 12:16 pm
    I don’t think it is racist either but if my team was whipped 42-3 I would be mad too.

  44. JJ says:

    I love it finally and honest realtor. I saw this in a new listing.

    “Hi Ranch in great condition. Has 2 feet of water from Sandy so entire first floor and utilities are new. Open plan kitchen and reasonable sized back yard. Lays out well, including lower level.”

  45. Liquor Luge says:

    People like Jesse Jackson and Sharpton are nothing more than extortionists.

  46. FKA 2010 Buyer says:

    Losing 42-3 in baseball…yea that’s a a$$ whipping.

  47. Liquor Luge says:

    The problem in all levels of baseball is baseball. It is a sport that’s custom-designed- at all levels- to be perfect for cheating.

  48. FKA 2010 Buyer says:

    And it’s not like baseball is immune to cheating scandals.

  49. Liquor Luge says:

    Why haven’t Bonds, Canseco, McGwire, etc spent a single day in prison?

  50. Liquor Luge says:

    Baseball is like banking. The big guys get off scot-free, but Pete Rose gets sacrificed ’cause he liked booking a little action on his own club.

  51. FKA 2010 Buyer says:

    [49] Liquor Luge

    Isn’t having an “*” by your records penalty enough?

  52. chicagofinance says:

    How about USD denominated debt with Brazil Real revenue streams? Also, their biggest assets are deepwater and untapped…..most of the borrowing was done before US fracking technology emerged as dominant….not saying that you can’t eke out your cap gain killing, but it is going to be a hell of a fcuk ride……and look at Kirchner in Argentina……would you want to be left on the wrong side of something like that just holding your dick?

    JJ says:
    February 13, 2015 at 11:50 am
    Chifi – your dire predictions about my oil bond buying freezy including PBR bonds in January was so “after the falling knife already hit the ground”

    If anything the accounting crisis, oil price collapse, scaling back on excess capex and firing of CEO and sr. mgt at PBR is a good thing long term. And bond holders think long term. If anything stunts to pop up common stock is Arsenic to bond buyers

  53. nwnj says:

    February is the year’s slowest month for sports. With that said, and even with ESPN’s proclivity for tabloid style journalism, that Eagles story is really lame.

  54. Liquor Luge says:

    Er, February is a great soccer month. Champions League re-starts.

  55. Liquor Luge says:

    Most Amerikan sports are boring 24-7…any time of the year. A bunch of felonious, drugged-up, brain-addled brats…and self-stimming owners…and sycophant, slacktard fans.

  56. Liquor Luge says:

    Even college basketball sucks now.

  57. FKA 2010 Buyer says:

    Who knew Morgan Stanley and Goldman Sachs were looking for a shortstop? I remember when Colin Powell stepped down from his position in the WH, the street was similarly courting him. He’s actually a funny guy who gave his security detail fits because he would hop out the car to get a dirty water dog all the time.

    http://www.foxbusiness.com/industries/2015/02/12/wall-street-battle-for-derek-jeter-and-his-wallet/

  58. Libturd in the City says:

    Colin Powell would often give everyone fits. He was one of the few politicians I could actually vote for. It’s a damn shame that Cheney set him up over the WMD thang. But I don’t feel too bad for him. He’s on the board of CRM. Hard to feel sorry for him.

  59. Libturd in the City says:

    JJ…break out your hat again!

  60. FKA 2010 Buyer says:

    [28] Comrade

    That’s pretty funny but you have to think about a lot of different things when you are putting something out in the media. Imagine if the NFL put out a daily calendar and the person to appear on February 14th page was Ray Rice?

  61. JJ says:

    You and Tom Brady have Deflated Balls

    GMAC, AIG, Citi, Bank of America back in late 2008 and 2009 I was yelling to big to fail, these are cash equivalents buy buy buy.
    January 2011 I was yelling Junk Rated Muni Bonds buy buy buy.

    I bought tons of different Energy company bonds not just PBR. I called Contango mid January. I bought some bonds with 10% coupons at 20 cents on the dollar. I got four interest payments baby to break even.

    And Kirshner now owes me money and when I come to collect she will need all the PBR oil she can find to lube up her butt if she wants to make it through the night after I pay her a visit. I will be drilling for a lot more than oil.

    Chicagofinance says:
    February 13, 2015 at 12:41 pm
    How about USD denominated debt with Brazil Real revenue streams? Also, their biggest assets are deepwater and untapped…..most of the borrowing was done before US fracking technology emerged as dominant….not saying that you can’t eke out your cap gain killing, but it is going to be a hell of a fcuk ride……and look at Kirchner in Argentina……would you want to be left on the wrong side of something like that just holding your dick?

  62. FKA 2010 Buyer says:

    Or a tire company using Tom Brady as a spokesperson. Actually the controversy might not be a bad idea.

  63. Anon E. Moose says:

    College B-Ball is ONLY interesting during tournament time. But considering you’ve got only 72 hours to fill out your brackets its hard to make much hay out of that.

    In other news, pitchers and catchers report in 7 days.

  64. Libturd in the City says:

    The Cooper Calendar Controversy reminds me of a suggestion I gave the Flying Fish Brewery at a beer show a few years back. These guys create the beers with the NJTurnpike Exit numbers on them and tend to relate the style of beer to the environment of the neighborhood of each exit. For example, Exit 9 is Hoppy Scarlet Ale for Rutgers. Since they hadn’t yet released Exit 13 (Newark), I suggested they brew a malt liquor. They laughed it off and said the joke was on me. About two months later, I see on the shelf at my local liquor store that Exit 13 was a Chocolate Stout.

  65. JJ says:

    Running out to get some duct tape and rope for Valentines day

  66. Liquor Luge says:

    Don’t forget the malt liquor.

  67. Liquor Luge says:

    I heard 50 Shades is like an old MTV video. Lame.

  68. Liquor Luge says:

    Me likey Flying Fish.

  69. JJ says:

    Chris Brown is staring in 50 shades of black and blue

  70. leftwing says:

    33. anon

    “More Americans are killed each year by the shooters in our midst like Craig Stephen Hicks than have ever been killed by all the jihadist terrorist outfits that have ever stalked this earth. ”

    Not sure where you sourced this material but great fact checking by the organization!

  71. Comrade Nom Deplume, for once thankful he isn't in Boston. says:

    This is housing. Sort of.

    Tonight, I heard a noise coming from the crawlspace under our dining room and kitchen. I peered in and saw a mouse.

    I went upstairs to the dining room where Mrs. Deplume was and told her that I saw a mouse. She asked me where it was. I told her “it’s directly beneath you.”

    I damn near had to peel her off the ceiling.

  72. Juice Box says:

    Real estate agent story on ABC right now. It’s Friday night usually involves murder.

  73. Juice Box says:

    Yup real estate agents packing heat.

  74. The Great Pumpkin says:

    Rumors swirl around large deficit, tax increase in Montclair school district budget

    http://www.northjersey.com/news/education/much-ado-about-budget-1.1271256

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