New Jersey ranks second in foreclosures
According to The Star-Ledger, New Jersey continued to reign as the second-highest foreclosure state behind Florida, with at least 6% of mortgages in the state in the foreclosure pipeline. The paper cited data from CoreLogic to prove its point:
According to CoreLogic, more than 3,400 homes completed foreclosures between June 2012 and June 2013 in the Garden State.
While foreclosure rates statewide rose from 6.04 percent in June 2012 to 6.19 percent a year later, rates in the Newark metropolitan area – the only local region cited in the report – dropped from 7.03 percent to 6.89 percent during the same period.