Mamta Badkar | Business Insider |
“According to a report from the Mortgage Bankers Association, 11.8% of New Jersey’s loans in foreclosure are seriously delinquent.
That figure sees New Jersey oust Florida from the top spot, which has 11.7% of seriously delinquent loans. New York takes the third spot at 9.11%.
Following this, Bloomberg News reported that “the epicenter of the U.S. foreclosure crisis is shifting to New Jersey and New York.”
So how bad has it gotten?
Florida still holds the top spot in terms of overall percentage of loans in foreclosure. New Jersey and New York are a close second and third, though the percent of loans in foreclosure was down from the previous quarter.
And there’s more worrisome data on both those housing markets.”