NJ foreclosure pipeline remains clogged - FOX 13 News

NJ foreclosure pipeline remains clogged

Posted: Updated:
By KATIE ZEZIMA

NEWARK, N.J. (AP) - The number of homes entering foreclosure across the nation is at its lowest level in years. But a big backlog of cases has left New Jersey still stuck at year's end with the nation's second largest percentage of homes in some stage of foreclosure, behind only Florida.

Real estate data provider CoreLogic says nearly 7 percent of New Jersey homes are in the foreclosure pipeline, compared with 7.1 percent in Florida.

New Jersey is one of those states where courts must sign off on foreclosures. With the pipeline clogged, it has been taking an average 1,000 days to complete a foreclosure.

Most of the country - but not New Jersey - is expected to clear out its backlog next year.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Your MoneyMore>>

  • NY: Wal-Mart levied fake 'sugar tax' on soda

    NY: Wal-Mart levied fake 'sugar tax' on soda

    Tuesday, September 16 2014 2:53 PM EDT2014-09-16 18:53:56 GMT
    New York's attorney general has settled a false advertising investigation at Wal-Mart, saying stores were charging a nonexistent "sugar tax" on soda.
    New York's attorney general has settled a false advertising investigation at Wal-Mart, saying some store personnel were citing a nonexistent "sugar tax" on soda. Investigators say some consumers who complained were falsely told the state has a "sugar tax." They say the markup of more than 16 percent violated state laws.
  • Envelopes in Marriott hotels invite tips for maids

    Envelopes in Marriott hotels invite tips for maids

    Monday, September 15 2014 8:14 AM EDT2014-09-15 12:14:33 GMT
    Do you leave a tip in your hotel room for the maid?  Marriott is placing envelopes in 160,000 hotel rooms beginning this week to encourage guests to leave tips.
    Do you leave a tip in your hotel room for the maid?  Marriott is placing envelopes in 160,000 hotel rooms beginning this week to encourage guests to leave tips.
  • Housing activists protest Airbnb

    Housing activists protest Airbnb

    Friday, September 12 2014 7:41 PM EDT2014-09-12 23:41:17 GMT
    You've probably seen Airbnb commercials extolling the benefits of homeowners renting out their houses or apartments to out-of-town guests for a fee. Sharing is caring feel-good commercials.But housing activists say Airbnb is reducing available housing in New York City's increasingly expensive and shrinking housing market. They argue Airbnb is pushing thousands of apartments toward use as illegal hotels instead of affordable housing.
    You've probably seen Airbnb commercials extolling the benefits of homeowners renting out their houses or apartments to out-of-town guests for a fee. Sharing is caring feel-good commercials.But housing activists say Airbnb is reducing available housing in New York City's increasingly expensive and shrinking housing market. They argue Airbnb is pushing thousands of apartments toward use as illegal hotels instead of affordable housing.
Powered by WorldNow

FOX 13 / WTVT-TV
3213 West Kennedy Blvd.
Tampa, Florida 33609
Main: (813) 876-1313
Newsroom: (813) 870-9630
Fax: (813) 871-3135

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices