Friday, July 17, 2009

New Jersey foreclosures decrease by 30%

Time for some good financial news. According RealtyTrac, the number of foreclosures in New Jersey during the first six months of 2009 were thirty percent less than the same period in 2008.

Housing counselors in New Jersey speculate that federal government programs that help homeowners modify their loans have been instrumental in the decline. There is also legislation in New Jersey that offers mediation to distressed homeowners, along with state loans to help lower monthly payments.

Loan modification help can be obtained for free. Take a look at http://www.makinghomeaffordable.gov/ for the options that are available to you.

New Jersey State Attorney Anne Milgram has also been aggressive in pursuing home mortgage modification frauds, filing two lawsuits charging ten defendants with mortgage related fraud just this week.

The fact that more people are thriving in their New Jersey home should be a confidence builder for you as a home buyer. We all plan to afford our purchase, but knowing help is available when the unthinkable happens allows us to move forward with our lives. There is no better place to start than with a home in the Mercer County area. Call me at 609-658-2612 to get started.

1 comment:

Anonymous said...

Buying a house changes your life. There are many people out there to help first time homebuyers get a home mortgage. It is an exciting time; enjoy this new experience.
New Jersey Home Mortgage