NY Mortgages Worse Than NJ

From CoreLogic’s December Loan Performance Insights:

NY has finally taken the overtaken NJ in mortgage delinquency stats, something I’ve been talking about for months. This is primarily being driven by distressed loan performance improving in NJ, and not delinquencies growing in NY.

NY vs NJ
30 Day Delinquency: 7.1 vs 7.0
Serious Delinquency Rate: 3.9 vs 3.8
Foreclosure Rate: 2.0 vs 1.7

NY and NJ are no longer the #1 and #2 spots nationally across all metrics, 30 day delinquency rates are increasing in a number of states. Florida has jumped to 7.5%, Louisiana to 8.2%, Mississippi to 8.7%. Even Texas is on the verge of jumping into the top 10 with a 30 day rate of 6.8%. The Florida/Texas activity is largely storm related, and this was expected.

If the current rate of improvement holds for NJ, in a year we will be better than the national average on all metrics. With noting, NJ is now resolving mortgage problems faster than any other state, too bad we weren’t at this same pace 3 years ago.

This entry was posted in Demographics, Economics, Mortgages, New Jersey Real Estate, Risky Lending. Bookmark the permalink.

75 Responses to NY Mortgages Worse Than NJ

  1. grim says:

    There is hope for American democracy after all.

  2. Fabius Maximus says:

    “Who do you think pays for scholarships? Santa Claus?”

    The Endowment Fairy!

  3. chicagofinance says:

    Pat DiNizio > Vigoda, but not by enough……

  4. Grab them by the puzzy says:

    @ezraklein

    “The Republican Party is led by an unpopular president and unpopular congressional leaders who are pursuing an unpopular agenda, and it’s putting them in massive electoral peril”

  5. Grab them by the puzzy says:

    @chrislhayes

    Message tonight to every GOP member in congress:

    If you think the President’s hold on your base will save you, think again.

  6. grim says:

    Republicans are doing the exact same thing Democrats did to lose, ignoring the middle. This hyperpolarized partisan nonsense is killing America. This goes for both ultra conservatives and ultra liberals.

  7. The Original NJ ExPat says:

    CPI 0.4% vs. 0.4% est.
    CPI ex- food and energy 0.1% VS. 0.2% est.

    Low and steady inflation continues – perfect for continued P/E expansion == Higher stock market prices!

  8. The Original NJ ExPat says:

    Who woulda thunk a Dem in Alabama could do better than a Dem in NY running for national office.

    Hahahahaahahahahaha!

  9. The Original NJ ExPat says:

    How funny would it be if after the FOMC press conference this afternoon that Yellen grabs her crotch and spits vis-a-vis Roseanne?

  10. The Original NJ ExPat says:

    Better yet, what if dissenting NFL players stand for the National Anthem and then grab their collective crotches and spit? I’m guessing Nickelodean or CNN would beat NFL TV broadcasts in the ratings post haste?

  11. Libturd, AKA Dr. Howie Feltersnatch says:

    I haven’t followed this Jones/Moore thing too closely. But the Dems celebrating a victory over a proven pedophile is hardly a game changer. It’s nice to see the people of Bama behave smarter than people in New York’s 13th District or in NJ with the coming reelection of Bob Menendez. But to celebrate this as the turning of the tide is utter nonsense.

  12. The Original NJ ExPat says:

    Corruption aside, shouldn’t they both be docked a ton of pay for however many of these TEN THOUSAND PLUS text messages were sent during working hours?

    Over 10,000 text messages sent between two top FBI investigators – one of whom led both the Clinton email investigation and the early Trump-Russia probe, have been turned over to Congress Tuesday evening and promptly leaked to the press. The profanity-laced messages reveal a deep hatred for Trump between veteran agent Peter Strzok and FBI attorney Lisa Page, who were having an extramarital affair while working together on the Clinton email investigation when the texts were exchanged. Strzok and Page were fired from Robert Mueller’s special counsel in mid-August over the messages, yet the reason was not revealed until last month. Strzok notably changed the wording of then-FBI Director James Comey’s statement on Clinton’s mishandling of classified information from “grossly negligent” to “extremely careless.”

    “Trump Should Go F Himself” – Texts Leak From FBI Agents On Russia Probe, Hillary Emails Investigation

    http://www.zerohedge.com/news/2017-12-13/anti-trump-texts-between-fired-fbi-agents-having-extramarital-affair-leak-and-theyre

  13. The Original NJ ExPat says:

    How many times have you heard this parroting by the MSM:

    Mueller did the right thing, he found out and fired them. AWWKK!
    Mueller did the right thing, he found out and fired them. AWWKK!
    Mueller did the right thing, he found out and fired them. AWWKK!
    Mueller did the right thing, he found out and fired them. AWWKK!
    Polly want a cracker!

  14. Grab them by the puzzy says:

    @ezraklein

    Tonight, Alabama did not elect a child predator who thinks Muslims should not be allowed to serve in Congress. That’s not the highest bar I can imagine for a democracy to clear, but I’m glad we cleared it.

  15. The Original NJ ExPat says:

    Weissmann is on the chopping block next. He was at Hillary’s (lack of) Victory Party and used his government email to congratulate effusively Sally Yates for shirking her DOJ duties by defying the President intentionally.

  16. Grab them by the puzzy says:

    @SenGillibrand

    You cannot silence me or the millions of women who have gotten off the sidelines to speak out about the unfitness and shame you have brought to the Oval Office.

  17. The Original NJ ExPat says:

    @ryanlizza

    I grab puzzies and hate Trump too!

  18. The Original NJ ExPat says:

    @WilliamJefersonClinton

    I have decades old smells I can’t identify all over my left fist.

  19. The Original NJ ExPat says:

    @HillaryClinton

    Me Too! Oh – that’s not (t)what the hashtag is for?

  20. The Original NJ ExPat says:

    @SenGillibrand

    Bill Clinton reached under my dress once and carried me away, upside down, like a bowling ball. Not as bad as it sounds.

  21. D-FENS says:

    Yeah…

    @RandyEBarnett

    Randy Barnett Retweeted Steven F. Hayward
    If GOP would only do what it promises its voters, they wouldn’t have to reach for demonstrable “outsiders” who might just be crazy enough to do what the voters want—or turn out to just be plain crazy.

  22. No One says:

    Roy Moore was an idiot. I don’t really understand how he managed to win the primary. Democrats should thank the Republican voters who stayed home or wrote in another candidate’s name. Doug Jones will likely lose his next election assuming a non-crazy runs from the Republican side.
    However, Democrats would have probably preferred to have the Roy Moore hillbilly carnival in DC to put in the news rather than one more minority Senator.

  23. Bagholder says:

    ‘Roy Moore was an idiot. I don’t really understand how he managed to win the primary.’

    I think there were two establishment GOP types that split the vote.

  24. Juice Box says:

    Re: “I don’t really understand how he managed to win the primary.”

    Like Real Estate all Politics is local. You just don’t understand Alabama, you are a Yankee liberal..

    The folks down there in Alabama, however, don’t understand how our Senator Menendez wasn’t convicted of at least one of those counts against him.

    See Now?

  25. Blue Ribbon Teacher says:

    What I found amusing was that they hate Moore because of the allegations and also his alleged racism (I have no idea about him as I just ignored most of this issue), yet they were plenty content to show their bigoted view by criticizing state of Alabama as a whole

  26. leftwing says:

    “The Republican Party is led by an unpopular president and unpopular congressional leaders who are pursuing an unpopular agenda, and it’s putting them in massive electoral peril”

    Says a mouthpiece of the Party that is in its worst electoral shape in 150 years, lol.

    Like having bernie madoff give you investment advice. think I’ll pass.

  27. Libturd, AKA Dr. Howie Feltersnatch says:

    BRT,

    Or all men as a whole, or all non dem voters as a whole, or all non LBGT as a whole. Shall I go on?

  28. Libturd, AKA Dr. Howie Feltersnatch says:

    Get your bitcoins! Another tech bubble?

    https://finance.yahoo.com/chart/%5EDJI#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%3D%3D

  29. No One says:

    Libturd,
    your full name is imposing the white patriarchy on me. You need reprogramming.

  30. D-FENS says:

    Can you buy tulip bulbs with bitcoins?

  31. Ottoman says:

    Black people and throw away write in candidates won it for Jones. America is still a dumb racist cesspool.

    grim says:
    December 13, 2017 at 6:01 am
    There is hope for American democracy after all.

  32. Ottoman says:

    Clinton beat Trump by 3million votes. Jones only won by 20k or so. You must be using that trickle down math. Or maybe you don’t understand how American elections work.

    The Original NJ ExPat says:
    December 13, 2017 at 8:38 am
    Who woulda thunk a Dem in Alabama could do better than a Dem in NY running for national office.

    Hahahahaahahahahaha!

  33. Libturd, AKA Dr. Howie Feltersnatch says:

    “America is still a dumb racist cesspool.”

    As long as that continues to be the blue motto, the cesspool will remain you dolt!

  34. Blue Ribbon Teacher says:

    Hard to say. Bitcoin was very intriguing when I first read about it 4 years ago. The technology, idea, and way it operates is definitely groundbreaking. I’m not sure governments can stop it given the other currencies that it has spawned which allow for even more anonymity. I have no idea how to value it and neither does anyone else. But at this point, with it’s market cap where it is and growing number of people adopting it, it’s here to stay, at $1000, or $17000.

  35. Libturd, AKA Dr. Howie Feltersnatch says:

    In the good news/bad news world of home ownership (Homeboken be warned), checked the boiler this morning because house smelled like bagels when I woke up. Lord knows Gator didn’t get up early to make breakfast (at least not at 6:45am). Saw a puddle around the boiler but could not find the leak and the heat had just turned off from the low water safety. I figured it was a crack in the boiler itself which would have sucked royally. Told Gator to be prepared to spend another 7K, which would be our second boiler replacement of the year. Had to do the multi in March. At least this boiler is due as it went into service in 1994. Well, just for sh1ts and giggles, I refill the boiler, crank it up and about an hour later my wireless water sensor triggers. I run into what is now a steam room and notice the pipe on the return to the boiler is shooting out water/steam like Old Faithful. Woohoo! Just saved myself about $6,700. Pipe is galvanized steel and has been replaced before (there is an elbow on one end and a coupler on the other). Now to find a plumber who will call me back on the coldest day of this Winter (meteorological). Those guys must be buried today.

  36. Ottoman says:

    In other words, you’re critical of people who were better educated on the issues than you. Even before this election, Moore has a well documented history of being kicked off the Supreme Court twice for refusing to remove the Ten Commandments from the courthouse and refusing to recognize marriage equality. And yet he was re-elected by the good people of the state of Alabama. And became the nominee, and almost won, a senate seat. Thanks to those same people.

    Alabamians also did nothing while their voting districts were gerrymandered and polling places and voter ID places closed in poorer neighborhoods. If voting were more equitable, idiots like Moore wouldn’t stand a chance. Yet here they are.

    Fun fact, the United Nations just released a report that compared Alabama’s poverty that in the third world. More proof that the redder the state the trashier it is.

    Of course we never see people on this page bashing New Jersey as a whole. You would never do that, right?

    You must teach the kids on the short bus.

    Blue Ribbon Teacher says:
    December 13, 2017 at 9:49 am
    What I found amusing was that they hate Moore because of the allegations and also his alleged racism (I have no idea about him as I just ignored most of this issue), yet they were plenty content to show their bigoted view by criticizing state of Alabama as a whole

  37. Libturd, AKA Dr. Howie Feltersnatch says:

    Bitcoin is definitely interesting. But the absolute (and I mean absolute) lack of any sort of regulation puts it on my no no list. It’s definitely a hot potato that will cool rapidly at some point.

  38. Libturd, AKA Dr. Howie Feltersnatch says:

    My kids on the short bus. I resemble that statement Otto.

  39. D-FENS says:

    Ottoman always seems so happy and friendly.

  40. The Original NJ ExPat says:

    I concur.

    Democrats would have probably preferred to have the Roy Moore hillbilly carnival in DC to put in the news rather than one more minority Senator.

  41. JCer says:

    bitcoin is really useful for money laundering, illegal transactions and transporting money across international borders. Need to get your money to switzerland, buy bitcoins in US , sell in Zurich put CHF in account. The big revolution is that the “blockchain” brings attention to cryptographic methods of insuring consistency in ledgers. This has been missed by all of the traditional players in the space, I don’t like calling it “blockchain”, that is very specific and married to the proof of work which will never be the real use case, the powers that be need a trusted entity, they cannot control a network like bitcoin and that doesn’t sit well with governments or banks. Using trusted entities you could create a distributed ledger that scales better and has the same cryptographic integrity baked in. I think eventually we will see such a thing used for trading securities. As for now bitcoin is a tool of criminals and heavily speculated for some reason.

  42. The Original NJ ExPat says:

    Wrong, footstool. Clinton beat Trump by 6 million votes, and that was just in two states, NY and CA. She then proceeded to lose by 3 million votes in the remaining 48 states.

    Hopefully this gives you some perspective no national politics.

    Clinton beat Trump by 3million votes.

  43. The Original NJ ExPat says:

    on national politics, that is.

  44. The Original NJ ExPat says:

    So the Democrats are really just the party of Television national news (NY, CA, and DC), which is suddenly, and painfully, obvious to all now.

  45. Grab them by the puzzy says:

    @StephenKing

    Donald Trump is unfit for office and needs to resign.

  46. Grab them by the puzzy says:

    @Acosta

    Omarosa is leaving the WH, CNN has confirmed

  47. Fast Eddie says:

    The DOW is skyrocketing – up another 135 points.

    Thank you, President Trump and thank you GOP for giving corporate America the sorely needed tax breaks to invest in white collar jobs!

  48. chicagofinance says:

    I just think that the below attitude is what created Trump in the first place. I see no productive reason to spit out such bile. It is frankly tone deaf, and only incites people in the center that would otherwise be potentially sympathetic to your arguments.

    Ottoman says:
    December 13, 2017 at 10:30 am
    Black people and throw away write in candidates won it for Jones. America is still a dumb racist cesspool.

    grim says:
    December 13, 2017 at 6:01 am
    There is hope for American democracy after all.

  49. Libturd, AKA Dr. Howie Feltersnatch says:

    “@StephenKing”

    Hell of a role model.

  50. Libturd, AKA Dr. Howie Feltersnatch says:

    Chi,

    I’ve been trying to explain this to every liberal I know. Much like their hero in Depends, they accept no culpability. It’s their way or the toll road. I would have said highway, but free highways only exist in red states.

  51. No One says:

    It’s the Marxist/race/sex/sexual based worldview that the leftist candidates spew that makes a hillbilly holy roller seem like potentially the lesser of two evils. Just like the total intellectual and personal integrity bankruptcy of Hilldog made a narcissistic buffoon look like the lesser of two evils to many.
    Both bad, but in different ways.

  52. Blue Ribbon Teacher says:

    In other words, you’re critical of people who were better educated on the issues than you.

    I don’t need to know the issues to observe the irony in people rallying against bigotry using bigotry

  53. Blue Ribbon Teacher says:

    btw, you did a great job counteracting all the arguments I never made and issues I never discussed.

  54. The Original NJ ExPat says:

    @StephenKing

    I deserve to be run over by a bigger van.

  55. The Original NJ ExPat says:

    @Acosta

    Nothing gets me hotter than looking at myself on TV.

  56. The Original NJ ExPat says:

    Because the Mueller investigation is crumbling in front of Congress on live TV. Now it’s obvious why McCabe ignored his subpoena, otherwise Moore would have won.

    The DOW is skyrocketing – up another 135 points.

  57. The Great Pumpkin says:

    “Nikki Haley Stuck a Knife in His Back”: Roger Stone Is Already Writing the Story of Trump’s Downfall – Vanity Fair
    https://apple.news/AIH1FVrCYSgGdaeMBFd8s2A

  58. Three Secret GEDs says:

    Strzok looks like he is going to be the fall guy from Loretta Lynch and Obama, maybe Susan Rice too.

  59. Bagholder says:

    ‘Strzok looks like he is going to be the fall guy from Loretta Lynch and Obama, maybe Susan Rice too.’

    This reminds me of how much I used to enjoy Zero Hedge. Wild conspiracy theories spoken as fact, imminent societal collapse, cratering Baltic Dry Index…

  60. Age of Empires says:

    Opinions?

    “China learned from Russia collapse, don’t respect the West Patents and partner with the Western Corporations being the major partner. The American Empire is done; hopefully Democracy take a lesson in becoming an economical reality?“

  61. Juice Box says:

    re: Bitcoin – Kid from Rutgers that crashed the Rutgers network with a DDOS attack and then some large internet companies with his for rent Bot Network last year has 13 bitcoins he is turning in to pay for his fine.

    “Jha gave no motive for his attacks on Rutgers or his attacks on the internet.

    He faces up to 10 years in prison, though he will likely face far less prison time under federal sentencing guidelines. He also faces a $250,000 fine and has agreed to forfeit 13 bitcoin — worth about $221,000 — as restitution.”

    http://www.nj.com/education/2017/12/rutgers_student_charged_in_series_of_cyber_attacks.html#incart_2box_nj-homepage-featured

  62. No One says:

    That ex-Rutgers kid Paras Jha looks like he Jhacks off a lot in his parents’ Fanwood basement. Does he have to pay taxes on his bitcoin gains if he hands them over as a fine?

  63. leftwing says:

    Baltic Dry Index….there’s a blast from the past

  64. ExJerky says:

    10:44. Savage.

  65. 401k says:

    Stock market is up 300-400% since 2008 right? Why aren’t we cashing out our 401k and taking the 10% penalty before the next crash? We can always re-invest after this bubble bursts…. am I crazy?

  66. grim says:

    Why on earth would you take a penalty? Just shift the funds to have less equity exposure.

  67. Not Age of Empire says:

    Agreed. China was able to see, in coincidence with the end of the cold war/boomers (Clintons) coming into power, that the elected leader was bs. That the real power was in the corporate state infrastructure.

    More importantly. This corporate state, is at heart an incapable eunuch. If a fight is to happen, lawyers and money they got, but the guns and powers reserve for a state, they don’t. And the best part, at heart they are sociopathically greedy and mercenary, so you’ll always be able to buy out a solution.

    Obviously, this could not happen during the cold war period, when the WW2/Cold War generation ran the country.

    Opinions?

    “China learned from Russia collapse, don’t respect the West Patents and partner with the Western Corporations being the major partner. The American Empire is done; hopefully Democracy take a lesson in becoming an economical reality?

  68. 401k says:

    I was under the impression any changes to my plan only apply go forward… so they’ll sell everything and move into bonds if I want?

  69. Juice Box says:

    Bonds? Move em to bitcoin!

  70. Libturd sporting Tiger Wood says:

    401K – There will be some choice with zero equity exposure.

  71. The Great Pumpkin says:

    “At the meeting of lawmakers, Rep. Don Young (R-Alaska) said he was confident in the GOP legislation, but that “if we’re wrong, Democrats ought to be happier than the devil. You oughta be real happy; you can say, ‘Look at what the Republicans did, look what they did, they hurt you, they hurt your economy.’ ”“

  72. Nwnj says:

    BOOM another PBS liberal just imploded.

  73. LurksMcGee says:

    Sorry to be lazy here guys, but which low equity exposure funds are out there? (pardon the ignorance)

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