New Jersey passed Nevada in the second quarter in the rate of homeowners with seriously delinquent loans, those 90 days late or in foreclosure, according to the Mortgage Bankers Association. Only Florida had a higher rate of serious delinquencies. The state’s judicial review of all foreclosures, which delays seizures to help borrowers, threatens to hold down prices for years as properties remain subject to repossession and then may be sold at a discount.
New Jersey – Now Has Second Highest Mortgage Delinquency Rate in U.S.
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