New Jersey

New Jersey Had Highest Foreclosure Rate in Nation in April: Report

There were more than 77,000 foreclosures in April, with the highest foreclosure rate happening in New Jersey, which is 26 percent higher than the next-highest state, according to a report released by ATTOM Data Solutions.

Of all cities nationwide with at least 200,000 in population, Atlantic City had the highest foreclosure rate and nearly three times higher than the next highest city with one in every 237 households with a foreclosure filing.

One in every 562 households were foreclosed on in New Jersey and one in every 1,723 households had a foreclosure filing nationwide, according to the report.

Connecticut was also in the top five states in the nation with the highest foreclosure rate with one in every 956 household with a foreclosure filing.

“Foreclosure activity continued to search for a new post-recession floor in April thanks in large part to the above-par performance of mortgages originated in the past seven years,” Daren Blomquist, senior vice president at ATTOM Data Solutions, said. “Meanwhile, we are seeing an elevated share of repeat foreclosures on homeowners who often fell into default several years ago but have not been able to avoid foreclosure despite the housing recovery.”

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