${site.data.firmName}${SEMFirmNameAlt}
East Orange: 973-677-9000
Paterson: 973-247-9445
Jersey City: 201-659-6226
Toll Free: 888-827-5493
FREE Initial
Consultation Se Habla Espanol
Go to Practice Area Categories

End of the year update on the foreclosure crisis in New Jersey

Various indicators speak to true recovery in the national housing market. However, the rate of foreclosure on the East Coast currently looks very different than foreclosure rates in sunnier climates. These areas, including Florida, Nevada and other "sandy states" were hit very hard at the start of the housing crisis. As the crisis has evolved over time, the market has begun to stabilize in these areas and has become more distressed on the East Coast. This reality is not likely to shift in the several months post-Sandy.

The fact of the matter is that families on the East Coast were not necessarily hit as hard as quickly at the beginning of the economic recession as others across the United States. However, the economy did not recover quickly enough to insulate New Jersey residents and others up and down the Atlantic from suffering financially in ways they had not initially expected to.

As an article in Forbes recently highlighted, the housing market is truly a local enterprise. National housing trends tend to function like national weather trends. It may be generally warmer throughout the nation, but "warmer" in Minnesota is significantly different than "warmer" in Arizona. The housing market has been depressed nationally in recent years, but foreclosure rates have functioned very differently in varied locations.

It is important for New Jersey residents struggling to stay in their homes that options are available that can help. From federal aid programs to bankruptcy, there are steps that individuals can take to remain in their homes or to make foreclosure as painless as possible. Please contact an experienced attorney with any questions that you might have on this issue.

Source: Forbes, "The Foreclosure Crisis Isn't Over Just Yet," Morgan Brennan, Dec. 1, 2012

No Comments

Leave a comment
Comment Information

PRACTICE AREA CATEGORIES

Tell Us About Your Case

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

PROFESSIONAL ASSOCIATIONS

  • NACBA | National Association of Consumer Bankruptcy Attorneys
  • NACA | National Association of Consumer Advocates
Review Us
Goldman & Beslow, LLC

Goldman & Beslow, LLC is a Federal Debt Relief Agency by an Act of Congress. We have proudly assisted consumers seeking relief under the U.S. Bankruptcy Code for over 38 years.

FindLaw Network

qr code

EAST ORANGE
OFFICE
7 Glenwood Avenue,
Suite 311B
East Orange, NJ 07017
East Orange Law Office

Phone: 973-414-8069
Phone: 973-419-7631
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
Fax: 973-675-5886
E-mail the firm

NEWARK OFFICE 168 Bloomfield Avenue
Newark, NJ 07104
Newark Law Office

Phone: 973-483-1333
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
E-mail the firm

PATERSON OFFICE 100 Hamilton Plaza,
Suite 405
Paterson, NJ 07510
Paterson Law Office

Phone: 973-247-9445
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
E-mail the firm

JERSEY CITY OFFICE 26 Journal Square,
Suite 603
Jersey City, NJ 07306
Jersey City Law Office

Phone: 201-659-6226
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
E-mail the firm

Back to Top