N.J. foreclosure filings up 49 percent in August from a year ago

[Star Ledger]

N.J. foreclosure filings up 49 percent in August from a year ago
by Jeff May/The Star-Ledger
Friday September 12, 2008, 9:14 AM
Foreclosure filings in New Jersey rose 49 percent in August compared to a year ago, well above the national average, according to fresh data from a firm that tracks the information.


David Zalubowski/APThe state had 6,475 filings -- default notices, scheduled sheriff's sales, bank repossessions -- during the month, a rate of one filing for every 536 households, Irvine, Calif.-based RealtyTrac found. In previous months, the counties hardest hit by foreclosures have been Mercer, Sussex and Union, according to the firm.

Nationally, foreclosure filings jumped almost 27 percent, year over year, RealtyTrac said. That's lower than in recent months, in large part because filings jumped substantially a year ago as the mortgage crisis deepened. One in 416 homes received a filing during August in the United States, although the situation is much more dire in Nevada, California and Arizona

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