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N.J. foreclosure filings rose 48 percent in September
New Jersey Foreclosure News
by Jeff May/The Star-Ledger
Foreclosure filings in New Jersey rose 48 percent in September compared to a year ago, or more than twice as fast as the national average, according to the latest tracking data.
The state had 7,658 filings -- default notices, scheduled sheriff's auctions or bank repossessions -- during the month, or a rate of one for every 453 households, the real estate data firm RealtyTrac found. That's an 18 percent jump from August, and a 48 percent jump from Sept. 2007.
For the first time since the onset of the housing slump, New Jersey's foreclosure filing rate exceeds the national average, which was one in every 475 households in September, Irvine, Calif.-based RealtyTrac said. In August, the state's rate was one in 536 homes.
Newark, Camden and Edison all made the top 100 list of U.S. metropolitan areas with the highest filing rates.
Help from Feds: A Treasury official said a mortgage relief plan is in the works, according to the Associated Press.
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