Massive 228% Jump In Foreclosure Filings

New foreclosure numbers out continue to undermine that talking point that New Jersey is experiencing anything close to a comeback under Chris Christie:

New Jersey's foreclosure numbers continue to move in the opposite direction of the national figures, according to a new report today from RealtyTrac.

In September, 180,427 U.S. properties reported foreclosure filings - default notices, scheduled auctions and bank repossessions. That amount represented a seven percent decrease from the previous month and a 16 percent drop from September 2011. Last month's total was the lowest for the country since July 2007.

Christie will probably attack RealtyTrac and say it's all just made up, but the increase in the NJ numbers is staggering:

The Garden State experienced its seventh straight month of year-over-year increases, as foreclosure filings jumped a massive 228% from September 2011 to September 2012. Blomquist said the state's foreclosures numbers last year were at "artificially-low levels," and the lenders are continuing to play catch-up.

It's good to have context and an explanation for the increase, but that really doesn't make the situation better. In fact, according to RealtyTrac one in every 1,020 housing units in New Jersey received a foreclosure filing in September. Meanwhile, when the Governor stopped in the state to visit, he chose to yell at a reporter who had the nerve to ask why he hadn't spent most of the federal money that was waiting to help struggling homeowners. Because you know, that will make the problem better and keep people in their homes.  

Go to NJ State Page
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