N.J. home foreclosures were down 30 percent in first six months of '09
There were 4,333 New Jersey properties with foreclosure filings in June, thtat is down 1.7 percent from May and a 13.34 percent drop from the year-ago period, according to RealtyTrac’s new market report, released Thursday. One out of every 808 households in the state received foreclosure notices, the report added.
It has been suggested that one of the reasons is that "lenders are now offering more loan modifications to customers." Thus, NJ taxpayers who are having difficulty in their mortgage should be encouraged to approach their lenders to seek some form of loan modification as these programs seem to be gaining some traction with the banks and other financial institutions.