By Rajeev Dhir | NJ Advance Media for NJ.com
on January 13, 2017 at 7:04 AM, updated January 13, 2017 at 5:20 PM
New Jersey led the country in foreclosures for the second year in a row at more than double the national rate.
Atlantic City topped the national list of metro areas with the highest foreclosure rate in 2016 at 3.39 percent, followed by Trenton at 2.16 percent. RealtyTrac tracks metropolitan statistical areas with a population of at least 200,000 or more.
The state posted an average foreclosure rate of 1.86 percent of housing units in 2016, according to data released by RealtyTrac. The national rate of 0.70 percent dropped to a 10-year low.
The state’s foreclosure rate for December was 0.2 percent, compared to the national rate of 0.06. The state saw an increase of 13 percent in overall foreclosure activity from last December, while the national average dropped almost 17 percent from a year ago.
https://www.nj.com/news/index.ssf/2017/01/nj_finishes_2016_on_top_of_national_foreclosure_li.html
We now lead the foreclosure rate because our wonderful system delayed the inevitable. Keep in mind foreclosure happens when you DON’T pay your mortgage.