Category Archives: Foreclosures

NJ to Banks: Clean em’ up

Posted on August 19, 2014 by grim

From the Courier Post: Christie signs bill allowing towns to crack down on problem properties Gov. Chris Christie has signed into law a measure empowering towns and cities to fine banks or creditors that fail to properly maintain vacant properties … Continue reading →

Posted in Foreclosures, New Jersey Real Estate, Politics | 101 Comments

The slow grind

Posted on August 16, 2014 by grim

From the APP: NJ’s housing market wades through foreclosures Waiting for New Jersey’s housing market to pick up some speed? You might want to grab a chair. A report released Friday provided a mixed bag for the Shore’s home owners … Continue reading →

Posted in Economics, Employment, Foreclosures, New Jersey Real Estate | 30 Comments

Go long bulldozers

Posted on August 14, 2014 by grim

From NJ Spotlight: HOUSING MARKET’S STATEWIDE WOES ARE REFLECTED, MAGNIFIED IN TRENTON Capital city’s plight made worse by safety concerns, loss of jobs and departure of businesses, overall weakness of New Jersey’s economy If New Jersey’s political leaders want to … Continue reading →

Posted in Demographics, Economics, Employment, Foreclosures, New Jersey Real Estate | 100 Comments

Wastin’ away again in Foreclosureville

Posted on August 8, 2014 by grim

From the Record: NJ, the foreclosure state The rate of new foreclosures fell in New Jersey in the second quarter but was still the highest in the nation, followed by Maryland and Florida, a new Mortgage Bankers Association report said. … Continue reading →

Posted in Foreclosures, New Jersey Real Estate | 129 Comments

Oh boy, this won’t end well

Posted on August 3, 2014 by grim

From Housingwire: New York now allows shared appreciation mortgage modifications Underwater homeowners in New York state are now eligible for an additional form of mortgage modification intended to help more of them keep their homes, in a development quietly passed … Continue reading →

Posted in Foreclosures, Mortgages, Risky Lending | 28 Comments

Housing finance learns to swim

Posted on July 24, 2014 by grim

From HousingWire: 1 in 6 homes still seriously underwater as home price growth slows In the second quarter some 9.1 million U.S. residential properties were seriously underwater — where the combined loan amount secured by the property is at least … Continue reading →

Posted in Demographics, Economics, Employment, Foreclosures, Housing Recovery | 53 Comments

Won’t fix, won’t sell, why bother?

Posted on July 21, 2014 by grim

From the Philly Inquirer: N.J. municipalities join forces to deal with vacant homes For Michael Miller and Allison Rupert, 58 Grove St. truly is the evil twin. A ramshackle residence that shares a wall with the Haddonfield couple’s well-kept home, … Continue reading →

Posted in Economics, Foreclosures, New Jersey Real Estate | 109 Comments

Foreclosures nearly back to normal, but not everywhere.

Posted on July 17, 2014 by grim

From CNBC: Foreclosure activity hits lowest level in eight years Foreclosure activity has been falling steadily for the past few years as the housing market recovers, but the latest reading shows it has hit a new milestone. According to RealtyTrac, … Continue reading →

Posted in Demographics, Economics, Foreclosures, Politics | 60 Comments

NJ continues to lead nation in foreclosures

Posted on July 9, 2014 by grim

From MarketWatch: 5 states with the most (and fewest) foreclosures There were 47,000 completed foreclosures nationally in May, down from 52,000 a year ago, which is a drop of 9.4%. But if you look at the month-over-month numbers from just … Continue reading →

Posted in Foreclosures, New Jersey Real Estate | 109 Comments

April foreclosure highlights

Posted on May 30, 2014 by grim

From the WSJ/Corelogic: CoreLogic Reports 46,000 Completed Foreclosures in April Highlights as of April 2014: — Every state, excluding New York and the District of Columbia, posted double-digit year-over-year declines in foreclosures. — Thirty-seven states show declines in year-over-year foreclosure … Continue reading →

Posted in Foreclosures, National Real Estate | 116 Comments

HARP falls short of hitting goals

Posted on May 29, 2014 by grim

From HousingWire: Did HARP fail 8 million homeowners? According to the Federal Housing Finance Agency, the volume of mortgage refinance under the Home Affordable Refinance Program is continuing to decline. And in an environment of rising mortgage rates, this is … Continue reading →

Posted in Foreclosures, Housing Recovery, Mortgages, Politics | 188 Comments

No quick end to NJ’s foreclosure crisis

Posted on May 27, 2014 by grim

From the Press of Atlantic City: New Jersey leads nation in foreclosures New Jersey now leads the nation with the highest percentage of loans in foreclosure, the Mortgage Bankers Association says. South Jersey is also mired in the problem. Sheriff’s … Continue reading →

Posted in Economics, Foreclosures, Housing Bubble, Mortgages, New Jersey Real Estate | 84 Comments

Where the underwater are

Posted on May 16, 2014 by grim

From NJ Spotlight: NJ STILL DROWNING IN ‘UNDERWATER’ MORTGAGES, NEW STUDY REVEALS Homeowners have it worse in New Jersey cities than almost anywhere in the nation, according to a new study of “underwater” mortgages, those with debt loads higher than … Continue reading →

Posted in Demographics, Economics, Foreclosures, New Jersey Real Estate | 170 Comments

NJ REO increase isn’t high enough

Posted on May 15, 2014 by grim

From HousingWire: Foreclosure filings down 1%, bank repos up 4% Property foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 115,830 properties in April, a 1% decline from the previous month and down 20% from … Continue reading →

Posted in Foreclosures, National Real Estate, New Jersey Real Estate | 188 Comments

Deciphering the mortgage slowdown

Posted on May 13, 2014 by grim

From the Philly Inquirer: Reasons for fewer mortgages so far in 2014 Applications for mortgages to buy houses have been lagging so far this year – 16 percent below the pace for 2013. Yet, for the first time since 2009, … Continue reading →

Posted in Demographics, Economics, Employment, Foreclosures | 110 Comments