Foreclosures Increasing in New Jersey?

Foreclosures seem to be increasing in New Jersey in 2012 while foreclosures are declining nationally.

2013-01-01

January 01, 2013 (Press-News.org) Each month, we hear the latest news about the state of our economy. Factors such as the unemployment rate and home sales can show us if we are headed toward a rebound, or toward a longer recession. Many of the indicators are starting to show a very slow economic recovery, but families across New Jersey are continuing to struggle with financial challenges.

New Jersey foreclosure statistics

These struggles are most evident in the housing market. According to CoreLogic, a firm that releases a monthly report on the housing industry, New Jersey is experiencing an increase in foreclosures during 2012. The report shows an increase of one percent over 2011 foreclosure rates within the state. Nationally, foreclosures have decreased 17 percent over the same time period.

Officials have been examining these numbers to try to understand what is really happening with New Jersey foreclosures. One of the reasons for the increase may be related to the length of the foreclosure process. In New Jersey, all foreclosures must go through the court system. While this may offer significant protections to homeowners, and ensure that proper procedures are filed, it can quickly lead to a backlog of cases. This will lead to a much longer process - as much as 900 days in some foreclosures.

While foreclosures may be falling across the U.S. overall, they seem to be higher in New Jersey because they are still dealing with the backlog of foreclosures filed several months ago.

Chapter 13 bankruptcy may help

For homeowners struggling to make payments on their mortgages, Chapter 13 bankruptcy may be an option, especially if the individual wants to remain in the home. In Chapter 13, a person's debts are consolidated and the filer makes monthly payments under a plan lasting three- to five-years. The payment plan can include past-due mortgage payments.

This type of bankruptcy is often used when a homeowner has some equity in the property. Filing for Chapter 13 bankruptcy protection places an automatic stay on all collection actions. This means that any foreclosure proceedings must stop while the bankruptcy is ongoing. During the bankruptcy process, debtors will work with the trustee to create a plan that allows them to stay current with their mortgage payments.

If you are struggling with financial problems, it is important to speak with an experienced bankruptcy attorney as soon as possible. Waiting too long to discuss your situation can eliminate some of the options that may be available to you. Debts will continue to increase, and creditors will continue collection efforts against you.

Talk to a lawyer

Filing for bankruptcy will give you time to rebuild your financial future. Each person will have different goals in the process, and it is important to work with someone who can help you create a plan that is focused on your needs. You do not have to continue to struggle making ends meet.

Article provided by Scura, Mealey, Wigfield & Heyer, LLP
Visit us at www.scuramealey.com

ELSE PRESS RELEASES FROM THIS DATE:

Distracted Driving Still Prevalent in Connecticut

2013-01-01

No sooner did cell phones become a widely used technology, than cell phone use while driving began to cause accidents and injuries on the highway. Connecticut was one of the first states to put restrictions on cell phone use while driving, passing a law in 2005 which limited use and imposed criminal penalties. However, many drivers in Connecticut still use their phones improperly while driving, even though it is illegal and dangerous. Many still distracted while driving Despite the well-publicized dangers of distracted driving, many on the road in Connecticut still ...

Massachusetts Implements Sobriety Checkpoints Over the Holidays

2013-01-01

According to Massachusetts State Police, sobriety checkpoints are extremely effective at combating drunk driving. Sobriety checkpoints are set up by law enforcement in public places. Officers create roadblocks to detain motorists in order to determine whether the drivers are intoxicated. Approximately 70 to 80 sobriety checkpoints are set up each year in the state, according to Massachusetts State Police. The checkpoints are used in combination with other patrolling techniques. Authorities analyze drunk driving data to determine where enhanced enforcement should be ...

Professional Kitchen Supplies Company, Kitchen Inspire, Recommend Cool Tools for Holiday Cooking

2013-01-01

No matter what your level of culinary skill is, or where you live in the U.S., Kitchen Inspire offers the commercial-grade supplies every kitchen and catering company needs. Below are some suggestions for kitchen supply tools to stock up on, or gift to someone special, this holiday season: Newburg 8 Quart Chafing Dish Winco makes an eight-quart, full-sized, stainless steel chafing dish with a full food pan (2.5 inches deep), dripless water pan, dome cover and two fuel holders. This chafing dish will be of particular handiness during catering events, keeping your food ...

Atlanta Staffing Agency TRC Staffing Services, Inc., Offers Tips on How to Make a Seasonal Job a Lasting Position

2013-01-01

It's the height of the holiday season, and throughout the nation, seasonal workers are growing aware that they will either still be employed at the end of the season or they won't. Many seasonal workers genuinely enjoy their work and would like to transition from being a seasonal employee to having a more permanent position. If you are a seasonal worker who wants to stay on after the season has ended, TRC Staffing Solutions, an Atlanta staffing agency, recommends that you take two steps to encourage your employers to keep you on if they can: work hard and make your enthusiasm ...

Medical Linen Service Angelica Corporation Discourages Spreading the Common Cold

2013-01-01

Cold and flu season is now in full swing, bringing with it a host of health concerns and related preventative care. This period of increased infectious disease occurs during the cold half of the year. In the U.S., it typically runs from October through May and presents a challenging period for hospitals in particular. While colds are a painful nuisance no matter what, they can complicate or completely halt recovery and treatment for children, the elderly and otherwise healthy individuals experiencing a temporary immunodeficiency. For patients with compromised immune ...

Atlanta Catering Company A Legendary Event Encourages Booking Now for the 2013 Wedding Season

2013-01-01

Although the warm, breezy days of late spring and early summer may seem far away as winter's chill still lingers, wedding season will be upon us sooner than you think. Because the days pass so quickly, Atlanta caterer A Legendary Event recommends considering booking your late spring through early summer wedding now. In Atlanta, wedding season typically begins as the weather begins to truly warm up in late May and tends to run through late September. If you are planning on having your wedding during the 2013 season, you may feel that planning now is pre-emptive, but many ...

GreenStar Waste Notes the Benefits of Using Atlanta Dumpster Rentals After the Holidays

2013-01-01

You will find that a dumpster rental in Atlanta, one that is delivered to your home or business will be a great way to quickly get your home or office cleaned up and ready for the New Year. Easy Cleanup After the Dust Settles After all the activity from the holidays subsides, including having relatives in town and throwing parties, you will be left with trash that most certainly needs to be thrown away. It can be very time consuming to have to haul everything off on your own. When using Atlanta dumpster rentals you will be able to simply bag up the trash and carry ...

Atlanta Video Production Company Optimum Productions Encourages Using Video Channels to Promote Your Business

2013-01-01

The Atlanta video production company Optimum Productions is encouraging professionals to use video channels to promote your business. Video marketing through a video channel is one of the best ways to reach out to potential clients because it allows you to create a visual representation of your business; all while linking viewers to your company website. To run a video channel that looks polished and professional it helps if videos are professionally produced. By hiring the Atlanta video production team at Optimum Productions, you can put together a collection of ...

Chattanooga Bankruptcy Attorneys, Clark & Washington, Note Singer Toni Braxton's Bankruptcy

2013-01-01

The Grass Is Not Always Greener Debt is often believed to be a poor person's problem. It is often said that the rich and famous know nothing about the trials and tribulations of their money-strapped counterparts, but this is not true. While famous celebrities do tend to live glamorous lifestyles that the rest of us can only dream of, this does not mean the waters are always smoother in their lives, as the Chattanooga bankruptcy attorneys at Clark & Washington discuss. High Notes and Low Points Braxton, a singer well known for her ability to belt out high notes ...

Atlanta Caterer A Legendary Event is Pleased to Announce that 3109 Piedmont Estate and Gardens is Open

2013-01-01

Tony Conway and A Legendary Event, an Atlanta caterer and special event design company, are pleased to announce that the much anticipated event space, 3109 Piedmont Estate and Gardens, is now open and available for your Atlanta special event! 3109 Piedmont Estate and Gardens is a stunning three-acre landmark located in the heart of Atlanta's Buckhead district. Built in 1797, this antebellum home has been restored to its original glory by Tony Conway and the team at A Legendary Event. The Estate has been beautifully decorated by some of Atlanta's most premier design ...

Foreclosures Increasing in New Jersey?

ELSE PRESS RELEASES FROM THIS DATE:

LAST 30 PRESS RELEASES: