So much for dragging out foreclosures

From the APP:

NJ leads nation in quarterly foreclosure starts

New Jersey led the nation in foreclosure starts in the second quarter, as the mortgage industry continues to deal with a backlog of loans that went bad in the housing crash.

Lenders started foreclosure proceedings on 0.75 percent of mortgages in the state during the quarter, the Mortgage Bankers Association reported this week. That compares with a national rate of 0.32 percent, the lowest rate since 2000.

And about 11.6 percent of New Jersey mortgages were either in foreclosure or delinquent on payments during the quarter. While that number is down from 13.6 percent in the second quarter of 2015, it is still almost twice the national rate of 6.3 percent, according to the MBA.

The worst of the foreclosure crisis has passed in most of the nation. But the process has been delayed in New Jersey because the state requires lenders to go through the courts to evict homeowners who default. In addition, the state slowed down foreclosure activity several years ago while the mortgage industry answered allegations of abusing homeowners’ rights.

In the first half of the year, the mortgage industry has started foreclosures on 15,346 homes in New Jersey, down from about 20,000 in the same period last year. It takes, on average, more than three years to evict a homeowner in default in New Jersey, among the longest periods in the country, according to Attom Data Solutions, a California company that tracks real estate markets around the nation.

This entry was posted in Foreclosures, Housing Recovery, New Jersey Real Estate. Bookmark the permalink.

51 Responses to So much for dragging out foreclosures

  1. Comrade Nom Deplume, the Deplumiest. says:

    Frist.

  2. Grim says:

    If it ever opens, you will need to pay to park if you want to shop at Xanadu.

    Good luck with that.

  3. D-FENS says:

    Manafort over the weekend saying Republican #nevertrump ‘ers have connections to the Clinton foundation.

  4. yome says:

    Donald J. Trump’s campaign chairman, Paul Manafort, when he consulted for Ukraine’s ruling political party. His furniture and personal items were still there as recently as May.

    And Mr. Manafort’s presence remains elsewhere here in the capital, where government investigators examining secret records have found his name, as well as companies he sought business with, as they try to untangle a corrupt network they say was used to loot Ukrainian assets and influence elections during the administration of Mr. Manafort’s main client, former President Viktor F. Yanukovych.

    Handwritten ledgers show $12.7 million in undisclosed cash payments designated for Mr. Manafort from Mr. Yanukovych’s pro-Russian political party from 2007 to 2012, according to Ukraine’s newly formed National Anti-Corruption Bureau. Investigators assert that the disbursements were part of an illegal off-the-books system whose recipients also included election officials.

    In addition, criminal prosecutors are investigating a group of offshore shell companies that helped members of Mr. Yanukovych’s inner circle finance their lavish lifestyles, including a palatial presidential residence with a private zoo, golf course and tennis court. Among the hundreds of murky transactions these companies engaged in was an $18 million deal to sell Ukrainian cable television assets to a partnership put together by Mr. Manafort and a Russian oligarch, Oleg Deripaska, a close ally of President Vladimir V. Putin.

    http://www.nytimes.com/2016/08/15/us/politics/paul-manafort-ukraine-donald-trump.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=first-column-region&region=top-news&WT.nav=top-news&_r=1

  5. GOP's broken (the good one) says:

    @green_footballs

    Amazing:

    ex-Trump campaign mgr Corey Lewandowski
    tweets link to Manafort’s Ukraine payoffs

  6. GOP's broken (the good one) says:

    @CLewandowski_

    Secret Ledger in Ukraine Lists Cash for Donald Trump’s Campaign Chief

  7. D-FENS says:

    Love the timing of that story. Great way to distract from the Clinton’s criticizing the FBI…and the release of the transcript of her questioning.

  8. The Great Pumpkin says:

    I think some people don’t like the positive outlook I bring on our economy, state, country, and future of housing in 2020’s. This blog attracted a lot of pessimists, and they clearly don’t like hearing the positive outlook I see and bring to the table.

    The Original NJ ExPat says:
    August 14, 2016 at 9:25 pm
    I’m beginning to like that the Great Pumpkovsky won’t leave. It has it’s benefits.

    1. Fewer people post.
    2. After skipping over the Great Pumkovsky posts, it only takes about 4 minutes to read the entire daily thread.

    Good work Plumpsky!!!!

  9. Grim says:

    I can attest to this:

    http://www.marketwatch.com/story/power-trip-japanese-audiophiles-go-to-extremes-to-get-pure-energy-2016-08-14

    Asian audiophiles are insane with what they’ll spend.

    I pulled a nearly mint Thorens turntable out of recycling. Sold it to a buyer in Asia for more than $1,000. He paid air shipping, probably cost $500 to ship it.

    I’ve sold many many thousands worth on eBay to these guys. Mostly old American vintage tube gear. Lots of these guys ship to California hifi shops who act as intermediaries for a fee.

  10. Ben says:

    I’ve sold many many thousands worth on eBay to these guys. Mostly old American vintage tube gear. Lots of these guys ship to California hifi shops who act as intermediaries for a fee.

    I found this old tube amp from 1965 at a garage sale. A Univox U45B. It’s only 15W so you can get some great distortion from it at low volumes. The tone that comes out of the speakers is incredible. Never bothered thinking about another guitar amplifier ever. The amazing thing is that this thing is 50 years old and still has the original tubes in it. Truly amazing how things were literally built to last back then.

  11. Juice Box (busy digging his own grave) says:

    re# 9 – Pure Energy

    Isn’t image is from the 1980s print ads of that audio tape company that used to be on Route 208 in Fairlawn?

    I want to know
    What you’re thinking
    There are some things you can’t hide
    I want to know
    What you’re feeling
    Tell me what’s on you mind

    Here i am in silence,
    Looking round without a clue
    I find myself along again
    All alone with you
    I can see behind your eyes,
    The things that i don’t know
    If you hide away from me,
    How can our love grow?

    I want to know
    What you’re thinking
    There are some things you can’t hide
    I want to know
    What you’re feeling
    Tell me what’s on your mind

    I know i could break you down,
    But what good would it do?
    I could surely never know
    That what you say is true
    Here i am in silence,
    It’s a game i have to play
    You and i in silence
    With nothing else to say

    I want to know
    What you’re thinking
    There are some things you can’t hide
    I want to know
    What you’re feeling
    Tell me what’s on your mind

    I want to know
    What you’re thinking
    There are some things you can’t hide
    I want to know
    What you’re feeling
    Tell me what’s on your mind

    I want to know
    What you’re thinking
    There are some things you can’t hide
    I want to know
    What you’re feeling
    Tell me what’s on your mind

  12. Grim says:

    Maxell

  13. libturd still chopping says:

    XL-II 90s. The best!

    Grim…did you see this?

  14. Juice Box (busy digging his own grave) says:

    Twitter in talks with Apple?

    What will Anon do?

  15. I can’t remember a single speaker at the Democrat Convention mentioning the Clinton Foundation or the Clinton Global Initiative. Isn’t that exactly the stage where someone should be extolling all the great works being done?

  16. grim says:

    Maxell still around in US? HQ in West Paterson?

  17. I used to buy Maxell type IV metal tapes to make Dolby C recordings of my CDs in the mid 80’s. Concord metal head unit in my care with a Dolby C signal processor in the glove compartment.

  18. grim says:

    I was very happy with my Nakamichi head unit.

  19. Anon E. Moose, Second Coming of JJ says:

    Gourd [86, yesterday];

    Anyone know if there are any other options to get around cablevision? They have no competition in my area, and really pissed me off. Internet isn’t working, and they said they will have someone here by tuesday. They will not reimburse me for the service I’m paying for and not receiving. This is total bs. Private industry run better than govt businesses my ass. This is what happens when they get so big and lack competition. Totally stick it to you. Verizon too, their customer service is a joke. They just do whatever they want.

    You do know that Cablevision (or residential broadband generally) is a government enforced monopoly, right? Only one company in each area won the franchise to lay the infrastructure, and in exchange they got exclusive right to service the residents. Verizon installed FIOS was where they had the existing conduit and right-of-way to lay fiber. I’ve lived (with Cablevision) in places that had FIOS available and in those that did not. The place that had FIOS competition was mysteriously 20% cheaper for the same service. Go figure!

    Adam Smith, 275 years later — STILL RIGHT!

  20. PumpkinPumper says:

    You might want to try HughesNet. Is the 4th Gen Satellite I-net, not as fast, but two way with a slight latency via Satellite. Sounds great for the Hunterdon, beautiful star filled night sky crowd, not sure about your landlordship area.

  21. Grim says:

    Sat has data limits – can get expensive if you stream.

  22. chicagofinance says:

    Pennant Fever (clot Edition):

    The Chicago Cubs have apologized for a song that was played after reliever Aroldis Chapman left the mound during Sunday’s game.

    The Cubs said an employee played Prodigy’s “Smack My Bitch Up” after Chapman pitched the ninth inning of a 6-4 loss to the St. Louis Cardinals. That employee was fired Monday.

  23. Juice Box says:

    84 days to go…

    Campaign live events for the month of August.

    Campaign events since August 1: Trump 20, Clinton 8
    Average speaking time: Trump 54 minutes, Clinton 29 minutes
    Longest speaking time: Trump 69 minutes, Clinton 45 minutes
    Shortest speaking time: Trump 38 minutes, Clinton 18 minutes
    Average attendance: Trump 5,432, Clinton 1,888
    Maximum attendance: Trump 16,000 (Jacksonville, FL), Clinton 3,500 (Commerce City, CO)

    TV Ad spending Daily- Clinton $500k day average. (getting expensive)
    Trump $Zero..( Funny how the reality TV king does not believe in TV Ads)

    Polling and pundits are pretty much in unison and say Florida, Wisconsin, Iowa, New Hampshire and Pennsylvania are the tipping points for either candidate, (that is if the voters decide to hold their noses and vote for either of these two candidates).

  24. Juice Box says:

    re # 24- GM’s office must have never watched the video.

  25. The Great Pumpkin says:

    What $100 Can Buy, State by State – The New York Times
    https://apple.news/AU3GT0aopQlivEKascA5djw

  26. chicagofinance says:

    That video is ACE!

    Juice Box says:
    August 15, 2016 at 6:32 pm
    re # 24- GM’s office must have never watched the video.

  27. chicagofinance says:

    BTW…..what happened to music like this?
    https://www.youtube.com/watch?v=gAfPZp5Rhjo

  28. Ben says:

    BTW…..what happened to music like this?
    https://www.youtube.com/watch?v=gAfPZp5Rhjo

    Chifi,

    I just don’t see kids forming bands anymore…and I’m a teacher so I’ve dealt with a good 600 kids this decade. I even ran the guitar club. The kids that were good at playing were only interested in doing acoustic guitar in coffee shops. None of them formed a band.

    All of those rock bands of the 90s were a bunch of kids who fooled around in a garage, made demos, played some local shows and got noticed.

  29. Juice Box says:

    re: # 29 – “BTW…..what happened to music like this?”

    Same can be said for RAP.

    Lack of talent was overcome by music recording technology.

  30. Libturd the bourgeois drone, feeling the Berning Cankles says:

    “Lack of talent was overcome by music recording technology.”

    Agree, though I am a fan of some of the electronic (techno) stuff being released today. For example, Twenty One Pilots has a few really decent songs. Even Tranor.

  31. 3b says:

    31 lots of great bands around many of them local concert and bar bands.

  32. The Great Pumpkin says:

    34-

    “Gentrification is arguably not the result of consumer preference, Neil Smith’s production theory of gentrification demonstrates time and time again that gentrification is brought about by governments and developers actively disinvesting and investing in particular urban areas in order to actively produce and then capitalise on what Smith calls the rent gap. Although consumer preference plays a role in determining what the face of gentrification looks like (i.e. $5 coffee shops), the driving force behind gentrification is the preference for profit by those in positions of power.”

  33. The Great Pumpkin says:

    21- Read up on the Verizon issue and they are not made to blame for skipping out on certain locations. The town govts and local utilities are to blame. Verizon did the only move they had, which is, abandon the project.

  34. Captain Nom Deplume, Besotted Rummy says:

    I’m going to encourage all you Berners to vote for the candidate I plan to endorse: Nuna Theabove.

  35. The Great Pumpkin says:

    Pretty crazy stuff. Feel like it’s all theatre. These people are all in bed with each other.

    “Donald Trump rails against the “rigged” political system that keeps people like Hillary Clinton in power. Yet Kushner’s parents have been among the most prominent funders of Democratic politicians on the East Coast. They were the largest donors to Clinton’s 2000 Senate campaign, and, despite the acrimony of the current campaign, Chelsea Clinton and her husband, Marc Mezvinsky, are close friends of Ivanka and Jared.”

    How the patrician couple came to have an outsized influence on a populist Presidential campaign.

    https://www.newyorker.com/magazine/2016/08/22/ivanka-trump-and-jared-kushners-power-play

  36. The Great Pumpkin says:

    “The theory goes that the older we get, the more familiar we become with our surroundings. We don’t notice the detailed environments of our homes and workplaces. For children, however, the world is an often unfamiliar place filled with new experiences to engage with. This means children must dedicate significantly more brain power re-configuring their mental ideas of the outside world.”

    https://www.weforum.org/agenda/2016/08/this-is-why-time-seems-to-go-by-more-quickly-as-we-get-older?

  37. Fabius Maximus says:

    Joyce says:
    August 14, 2016 at 11:32 pm
    98
    How will a third party gain traction with your infallible logic?

    It won’t.
    Show me a way a third party can make an inroad? Show me how a third party candidate makes a difference? At the end of the day it all comes down to 270, if no one gets there congress votes the party lines. Unless you get a third party making major inroads into multiple states, it goes nowhere.

  38. Fabius Maximus says:

    #32 Lib

    Techno is still old school. Just finished Fat Boy Slims Mambo Ibiza set from earlier today. Its only on Mambo Ibiza Facebook Page. Even Chi would like it, he finished with Blue Monday.

    Here is last years set. Finishes with the Average White band @1:14:40 FTW
    https://www.youtube.com/watch?v=vxGFbhBxZ-4

    Th

  39. chicagofinance says:

    Chifi, The kids that were good at playing were only interested in doing acoustic guitar in coffee shops.

    you mean like this?
    https://www.youtube.com/watch?v=wnSbtU21nMQ

  40. Joyce says:

    40
    You need to think long term.

  41. D-FENS says:

    If a 3rd party candidate reaches a certain threshold of votes, they receive government matching funds.

    Also, the more votes the third party receives, the better chance they have a spot on the debate stage, which at the very least, can help influence policy.

  42. Libturd the bourgeois drone, feeling the Berning Cankles says:

    Techno is still old school. But much of what I hear on iheartradio is what the underground techno artists were doing in the mid-nineties. Though I love the Prodigy, FBS, Moby, etc. There were tons of bands that no one ever heard of that were equally as good, but simply didn’t have the marketing to get them to the major label. Like Altern-8, Josh Wink, Aphex Twin. Sia, Trainor, Tove Lo, Grande and even the annoying Nicki Minaj and Brittany Spears are all virtually singing over the same riffs, transitions and cross flanged melodies that were all developed in the 90s with the help of Korg and Reason.

  43. Libturd the bourgeois drone, feeling the Berning Cankles says:

    And there are some vocalists today who absolutely kick butt. Hozier, Ed Sheeran, etc. And then there’s still the creativity of Beyonce and Rihanna. Music is far from dead. Garage Rock is dead, for now. Much as it was in the 80s when synthesizers became the rage. Unless you want to call the PetShop Boys and UB40 bands.

  44. Libturd the bourgeois drone, feeling the Berning Cankles says:

    Succinct and honest article on the Clinton Foundation. If the Clintons had any ethics, it would not exist as long as a Clinton is in any political office. But we all know that the common thread with the Clintons is their lack of morals and ethics. Cigar anyone?

    http://finance.yahoo.com/news/why-clinton-foundation-scandals-never-000000361.html

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