Foreclosure City

From the Press of Atlantic City:

Foreclosures continue to plague housing market in Atlantic County

To Dan Boddy, a veteran real estate agent based in Galloway Township, mortgage foreclosures aren’t just a key part of the Atlantic County housing market.

“They’re the dominant factor. That’s what’s selling,” says Boddy, of Century 21 Frick Realtors in Galloway. “I was talking to a local title company a few months back, and they said that was about half their business now.”

Atlantic County ended 2016 with the distinction of leading the nation in foreclosure activity, the third straight year the county held that dreaded position, according to ATTOM Data Solution, whose RealtyTrac division publishes national foreclosure figures dating to 2006.

The company reported last week that 3.39 percent of Atlantic County’s housing units were in some stage of foreclosure activity, meaning the owners had received notices of default, auctions were scheduled or banks have taken the properties back.

That translates to one house out of every 30 in the county, according to ATTOM.

Other South Jersey counties have high foreclosure-activity rates of their own, including Cumberland, where almost 2.7 percent of homes are in some stage of the process; Ocean County, at 1.86 percent; and Cape May, at 1.3 percent.

And New Jersey itself had the highest rate in the country last year, at 1.86 percent of all homes with some foreclosure activity.

The state also led the U.S. in the number of “legacy” foreclosures, according to ATTOM, meaning the loans date to between 2004 and 2008. Plus New Jersey had the second-longest average foreclosure process in the country, at an average of 1,383 days, or almost four years from start to finish.

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

17 Responses to Foreclosure City

  1. soutwin says:

    Morning ya’ll sleepyheads …

  2. The Great Pumpkin says:

    Should masturbation breaks become the new smoke breaks?

  3. The Great Pumpkin says:

    Perfect example of why privitization doesn’t always work. Looks like the socialized models are doing it better with regulations and publicly owned system. This is why they should stay the hell away from education, privitization will just increase the costs without improving results.

    “Health care spending in the U.S. far exceeds that of other high-income countries, though spending growth has slowed in the U.S. and in most other countries in recent years.3 Even though the U.S. is the only country without a publicly financed universal health system, it still spends more public dollars on health care than all but two of the other countries. ”

    “U.S. spends more on health care than other high-income countries but has worse outcomes”

  4. The Great Pumpkin says:

    Exactly what will happen with charter schools. Privately owned, but using more tax dollars than the publicly owned system.

    Just think about that for a sec, our private based healthcare system uses more tax dollars than the publicly owned options in other countries. What a joke, and a glaring example of what happens when you combine profit and tax dollars.

  5. Clotpoll says:

    pumps 9:10-

    why not? you’ve already proved there’s a place in the world for a 24/7 jerkoff.

  6. chicagofinance says:

    clot: ok, it is you…..

  7. chicagofinance says:


    Hit this last night….it was great….about 40-50% Cornell fans….

  8. Clotpoll says:

    chi 12:16

    right between the eyes m0therfu<ker

  9. Ben says:

    Even though the U.S. is the only country without a publicly financed universal health system, it still spends more public dollars on health care than all but two of the other countries. ”


    politicians in the US are inherently more corrupt than pretty much any other country in which the proponents ask us to emulate.

  10. The Great Pumpkin says:

    “In another matter, Mr. Trump during Friday’s interview described a special council, made up of 15 to 20 builders and engineers, that would monitor spending on his $1 trillion plan to improve the nation’s roads, bridges and other public works.
    “Some of the projects they’ll throw out, some of the projects they’ll expand, but all of the projects they’ll make sure we get a tremendous bang for the buck,” Mr. Trump said.”

    Trump Open to Shift on Russia Sanctions, ‘One China’ Policy – The Wall Street Journal

  11. Steamturd thinking about the remains of Hillary's umbilical stump says:

    Chi…Baker rink is one of the best college rinks in the country. Watching your team win in it is even more fun. Glad you enjoyed it.

  12. Juice Box says:

    re: “right between the eyes m0therfu<ker."

    Back in late 80s my cousin was still living in the Bronx on good ole Gun Hill Road across from the golf course. The neighborhood I grew up in had changed for the worse since we the Irish had all left. My cousin was working for NYC bank in computing and had a band, and he also had a drug problem. He would stroll around the Bronx busking with his guitar singing songs at night, he was fearless. My dad had been keeping an eye on his ever since my cousin's dad retired at the young age of 48 and moved his family back to Ireland. Flash forward eight years to bang right between they eyes. A drug deal gone bad and my cousin was shot through his left arm and "right between thm0therfu<ker eyes". The 22 round literally hit him right between the eyebrows and bounced off his thick Irish skull. The doctors at Montefiore Hospital said to me when I went to pick him up that he was the luckiest man alive. An inch left or right he would have been shot through the head.

    Today he lives the quiet life on the other side of the earth. About as far away from the Bronx as you can get, perhaps I will book that trip this summer to New Zealand. I hear the winter there isn't so bad.

  13. Hughesrep says:

    Place hasn’t changed much, except clot got his meds upped? Can’t imagine what election season was like except for Gary being away on cross burnings.

    Never met Trump personally, but I dealt with his henchman a on the construction side several times, a wretched hive of scum and villainy.

    Whose 529 plan? Leaning towards NY? Low fees seem like the way to go?

  14. Hughesrep says:


    How does the distillery work? Can someone just stop buy and purchase? Or do you have distribution?

  15. grim says:

    Yes you can stop buy and purchase. Just be sure to ping me if you are thinking about stopping by, so I can make sure I’m there.

  16. The Original NJ ExPat says:

    LOL. WARN notice from Clinton Global Initiatiave (which is shutting down).

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