New Jersey had second highest Foreclosure Spike in US in October

While many financial pundits are talking about ‘recovery’, things are still rocky on the housing front.  New Jersey had the second highest initial foreclosure filings in the nation in October, with Atlantic City toping the metropolitan charts with 1 in 301 homes having papers filed in October, 2016.

According to ATTOM Data Solutions the curator of the US’s largest fused property database, New Jersey’s foreclosure rate hit one in every 564 housing units as compared to the national foreclosure rate of one in every 1,258 housing units.

October marked the 13th consecutive month when U.S. foreclosure activity decreased on a year-over-year basis, but the month-over-month increase in October was the biggest monthly increase since August 2007, according to the report.

For a full copy of the article and the list of 11 towns with the top foreclosure rate, go to   http://tinyurl.com/jhpfbqa