New Jersey – Second Best State to Default on Your Mortgage

It takes almost three years for the foreclosure process to be completed in New Jersey. The average number of days to complete foreclosure in Q4 2012 was 987. By
comparison it took 853 days in Florida and 1089 days in New York. For homeowners facing foreclosure, that’s good: it gives them plenty of time to try and refinance their mortgages, sell their homes or find other ways to stop the foreclosure process. Of course, it also allows them plenty of time to just live in their homes for free until
the foreclosure process is completed.

AOL Real Estate   January 31, 2013