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Foreclosures still climbing for commercial properties
Alongside pronouncements that the state’s business outlook is brightening, foreclosures of non-residential properties have been increasing in New Jersey.
During the economic downturn in 2009, the state saw 3,827 non-residential foreclosure filings, including tax sales. That was more than double the amount two years earlier at the onset of the Great Recession.
During 2011, data from the state’s court system show non-residential foreclosure actions hit 5,027. Early indications this year are that the surge continues. (Tyrrell, NJ Spotlight)
