Residents in Pa., N.J., and Del. are way behind on their mortgages

Under Water

Residents in Pa., N.J., and Del. are way behind on their mortgages

The percentages of “seriously underwater” mortgages in Pennsylvania, New Jersey, and Delaware all exceeded the national average in the second quarter of 2016, according to new data.

All three states also saw their percentages of seriously underwater mortgages increase since the beginning of the year, while the national average dropped slightly.

“The overarching trend nationally, when we look at home equity, is good,” said Daren Blomquist, senior vice president of ATTOM Data Solutions, previously called RealtyTrac, which calculated the numbers. “Now, there are places where there is an exception to that rule, and that includes Delaware, New Jersey, and Pennsylvania.”

Being underwater on your mortgage means that you owe more on the loan than the value of your home. Being seriously underwater means you owe at least 25 percent more than your house is worth.

Blomquist speculates that the uptick in seriously underwater mortgage rates in Pennsylvania, New Jersey, and Delaware can be attributed to a lagging foreclosure process that recently picked up.

As more foreclosed homes are sold below market-rate, he said, the values of their neighboring properties will also drop, but mortgage payments will remain the same.

Rest here…

If you are in New Jersey and are looking for help with foreclosure, call Denbeaux & Denbeaux at (201) 664-8855 or fill out their online form for a FREE Case Evaluation. Let the lawyers and staff at Denbeaux & Denbeaux serve you!


3 Responses to “Residents in Pa., N.J., and Del. are way behind on their mortgages”
  1. lvent says:

    Moreover, the FRAUD INVESTORS want no monetary trade they want electronic trade so they get to unlawfully spy on everyone.

    That’s why this spy government is completely out of control & why they won’t declare their SPY WAR on us because that proves they used CRIMINAL FRAUD to spy on everyone because unlawful spying was their main objective.

    Therefore, they’re not the U.S. GOVERNMENT they’re criminal imposters.

  2. lvent says:

    Most of these corporations can’t prove they’re worth the paper it’s printed on because electronic wealth has no monetary value.

  3. lvent says:

    PERFECT DEFAULT CORRELATION is the reason why & is proof of forced failure by WALL STREET EXECUTIVES in this megaconglomerate CORPORATE criminal conspiracy.

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