New Jersey has a whopping 7.7 percent of mortgaged homes in foreclosure, according to CoreLogic, an analytics consultancy specializing in residential property information.
New Jersey’s rate was second to Florida’s 11.1 percent in terms of foreclosure property, making these states the only two with a higher than 6 percent ratio. What may be worse is that New Jersey’s foreclosure ratio has increased by 1.1 percent since last year. (Florida’s dropped 1.3 percent.) Along with Maryland, which has a total rate of only 4.2 percent, New Jersey was only one of two states to increase its foreclosure rate by more than a full percentage in the past year.
The Edison-New Brunswick statistical area was cited as having one of having one of the worst foreclosure ratios of large populated regions. Edison-New Brunswick has a 6.4 percent ratio, up a full percentage from a year ago.