Our wide range of New Jersey home foreclosures for sale can provide houses suitable for almost anyone's budget. All of our New Jersey foreclosure listings are regularly updated and contain the latest available foreclosures and repo homes at bargain prices.
Search through the best listings of foreclosures in New Jersey. We provide foreclosed homes and auctions in the major New Jersey cities. Choose a city and fing an excellent deal for you!
Foreclosures are Telling on the Health of the Nation - Nov 24, 2011
Flat Fees Paid by Fannie were Inadequate for its Legal Firms - Oct 07, 2011
Foreclosures are Not an Economic Malaise But are Now Posing a Health Crisis - Oct 06, 2011
New Jersey Foreclosures: Opportunities in a Recovering Economy - Sep 20, 2011
New Jersey is Near the Top of the List with Foreclosure Rate Problems in the Country - Aug 31, 2011
» See all recent news
New Jersey is located on the tip of North American's east region, sitting along the coastal border of the Atlantic Ocean. New Jersey sits in between surrounding states including New York and Pennsylvania. It is one of America's smallest states and is comprised of areas including the Atlantic Coastal Plain, which is located in the state's southern region and features low sweeping flatlands and plains. New Jersey also features mountains of the Appalachian Ridge and the rocky ridges of the New England Upland.
The state's major cities include Trenton, respectively the state's capital; Newark, being the state's largest city, followed by other major metropolitan regions such as Elizabeth, Edison, Howell and Woodbridge. Notable counties include Union county, Middlesex County, Passaic County and Essex County. New Jersey's overall population is approximately 8,791,894, according to recent statistics, making it America's 11th most populated state. Numerous landmarks are situated in Trenton, which promotes historical and cultural significance in many areas, such as the New Jersey State Museum, The William Trent House and the Old Barracks, which is the last of its kind in America.
New Jersey's thriving economy boasts a profitable and productive agricultural industry. The state's most important sector is natural plants and greenhouse production, along with the state being a major provider of soybeans, wheat, asparagus, eggplant and bell peppers. The state's mining industry largely focuses on materials such as crushed stone, gravel and sand, as well as peat. New Jersey also garners considerable revenue from its commercial fishing sector, with clams being its most precious export, along with flounder, lobster, swordfish and scallops. The manufacturing industry's most important sector is in the production of chemicals. This sector produces home products such as shampoo and perfumes, deodorants, lotions and body wash products.
The current housing market is benefitting from decreased prices over the past year, making it a good time to check out our New Jersey home foreclosures. Trenton is experiencing a notable drop of nearly 5 percent in terms of price value, with median listing prices currently sitting at $94,900. While in Newark, the same percentile decrease in comparison to last year, is producing prices of roughly $189,000 or above, with New Jersey foreclosures accounting for 1.4 percent of overall household sales.
All New Jersey foreclosures are handled by the court system. But before the courts get involved, the lender must issue a Notice of Default to the borrower (homeowner) in default. This informs the homeowner of the amount owed and the impending foreclosure suit that will be employed if the debt is not paid within 30 days.
If the lender does not receive payment, that person may begin the process of judicial foreclosure by filing a Lis Pendens (pending lawsuit) against the homeowner. The lender either sues for the amount of the default payment on the loan or they may demand payment of the entire loan amount. In the case of the latter, it usually means that the mortgage loan will be terminated, even on receipt of payment. The homeowner is usually given 35 days in which to respond to the suit, after which point the court may issue a ruling.
If the court rules in favor of the lender, a foreclosure sale of the homeowner's property is scheduled. A Notice of Sale must be posted on the property in question as well as the county courthouse office. The Notice must be additionally published in at least two newspapers, one of which must be a newspaper based in the largest town in the county. Notice must also be given to the homeowner ten days prior to the scheduled sale.
The sale is conducted by the Sheriff in the form of a public auction, the property being awarded to the highest bidder. Upon receiving payment, the Sheriff may transfer ownership of the property to the winning bidder after ten days and a court confirmation hearing have passed. It is within these ten days that the original homeowner retains a right to redemption, either by full payment of the sale price or challenging the sale at the confirmation hearing.
To add this chart to your web page just copy the HTML and put it in your web page:
