NJ foreclosure pipeline remains clogged - KMSP-TV

NJ foreclosure pipeline remains clogged

Posted: Updated:
By KATIE ZEZIMA

NEWARK, N.J. (AP) - The number of homes entering foreclosure across the nation is at its lowest level in years. But a big backlog of cases has left New Jersey still stuck at year's end with the nation's second largest percentage of homes in some stage of foreclosure, behind only Florida.

Real estate data provider CoreLogic says nearly 7 percent of New Jersey homes are in the foreclosure pipeline, compared with 7.1 percent in Florida.

New Jersey is one of those states where courts must sign off on foreclosures. With the pipeline clogged, it has been taking an average 1,000 days to complete a foreclosure.

Most of the country - but not New Jersey - is expected to clear out its backlog next year.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • New Jersey NewsNew Jersey NewsMore>>

  • Manchester police officers successfully help deliver baby with wrapped cord

    Manchester police officers successfully help deliver baby with wrapped cord

    Wednesday, April 23 2014 2:13 PM EDT2014-04-23 18:13:53 GMT
    As he tried to assist in the delivery of a newborn, Manchester Officer Joseph Fastige noticed the umbilical cord was wrapped around the child’s neck. He was able to get his fingers around the cord and safely unwrapped it. That quick-thinking - and perhaps life-saving - move was one of several Manchester officers made when they delivered a newborn child last week.
    As he tried to assist in the delivery of a newborn, Manchester Officer Joseph Fastige noticed the umbilical cord was wrapped around the child’s neck. He was able to get his fingers around the cord and safely unwrapped it. That quick-thinking - and perhaps life-saving - move was one of several Manchester officers made when they delivered a newborn child last week.
  • Top 20 schools in New Jersey

    Top 20 schools in New Jersey

    Wednesday, April 23 2014 2:11 PM EDT2014-04-23 18:11:21 GMT
    Patch has listed the top 20 schools listed on U.S. News and World Report's rankings of the top high schools in the nation. The rankings include data on more than 19,400 public high schools in 50 states and the District of Columbia. US. News and World Report has released its rankings of the top high schools in the nation.
    ?Patch has listed the top 20 schools listed on U.S. News and World Report's rankings of the top high schools in the nation. The rankings include data on more than 19,400 public high schools in 50 states and the District of Columbia. US. News and World Report has released its rankings of the top high schools in the nation.
  • Weather conditions ripe for brush fires in NJ

    Weather conditions ripe for brush fires in NJ

    Wednesday, April 23 2014 9:08 AM EDT2014-04-23 13:08:34 GMT
    Forecasters have issued a red flag warning and fire weather watch for most of New Jersey.
    Forecasters have issued a red flag warning and fire weather watch for most of New Jersey.
  • Your MoneyMore>>

  • Caesars enters New York casino competition

    Caesars enters New York casino competition

    Tuesday, April 22 2014 10:52 PM EDT2014-04-23 02:52:22 GMT
    Caesars Entertainment entered the competition to open a casino in upstate New York on Tuesday with a proposal to build a $750 million complex 50 miles north of New York City. The complex would include a casino, a hotel and a meeting space and would be located in Woodbury, in Orange County. The Las Vegas-based Caesars, which operates 52 casinos around the world, has submitted a $1 million casino license application fee to state gambling regulators.
    Caesars Entertainment entered the competition to open a casino in upstate New York on Tuesday with a proposal to build a $750 million complex 50 miles north of New York City. The complex would include a casino, a hotel and a meeting space and would be located in Woodbury, in Orange County. The Las Vegas-based Caesars, which operates 52 casinos around the world, has submitted a $1 million casino license application fee to state gambling regulators.
  • Airbnb fights NY attorney general's subpoena

    Airbnb fights NY attorney general's subpoena

    Tuesday, April 22 2014 7:06 PM EDT2014-04-22 23:06:24 GMT
    Renting out someone's apartment is an easy way to get an inexpensive place to stay if you're a tourist, and cheaper and more convenient than most hotels. But now the government is stepping in and trying to get a handle on a booming business that may not be playing by the rules. State Attorney General Eric Schneiderman is squaring off in court with multi-million dollar Internet company Airbnb.
    Renting out someone's apartment is an easy way to get an inexpensive place to stay if you're a tourist, and cheaper and more convenient than most hotels. But now the government is stepping in and trying to get a handle on a booming business that may not be playing by the rules. State Attorney General Eric Schneiderman is squaring off in court with multi-million dollar Internet company Airbnb.
  • McDonald's profit slips amid weak sales

    McDonald's profit slips amid weak sales

    Tuesday, April 22 2014 8:24 AM EDT2014-04-22 12:24:13 GMT
    McDonald's reported a lower profit for the first quarter as the world's biggest hamburger chain saw global sales remain weak.The Oak Brook, Ill.-based company said global sales edged up 0.5 percent at established restaurants.  In the U.S., the figure fell 1.7 percent as customer traffic declined.
    McDonald's reported a lower profit for the first quarter as the world's biggest hamburger chain saw global sales remain weak.The Oak Brook, Ill.-based company said global sales edged up 0.5 percent at established restaurants.  In the U.S., the figure fell 1.7 percent as customer traffic declined.
Powered by WorldNow

KMSP-TV
11358 Viking Drive
Eden Prairie, MN 55344

Phone: (952) 944-9999
Fax: (952) 942-0455

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices