N.J. Foreclosures

N.J. may lead the nation with the highest percentage of foreclosed homes by the summer.

10.5% of homes with a mortgage are in serious delinquency in N.J.. 
Foreclosure filings in N.J. slowed to a trickle in 2010, when the state Supreme Court required the six largest banks to review their lending proceedures.  This created a backlog the courts are still trying to unclog.

According to a December report by real estate consultant firm Otteau Valuation, the state has begun to work through its backlog with a 71% increase in foreclosure filings in 2013.

http://www.nj.com/business/index.ssf/2014/01/nj_may_soonlead_nation_in_foreclosures.html#incart_river