Foreclosures in NJ up nearly 40 percent in March

April 16, 2009 5:10:42 AM PDT
The number of New Jersey households threatened with losing their homes jumped nearly 40 percent in March over February. The figures show major lenders have restarted foreclosures after a temporary break.

Foreclosures in the state rose 1.96 percent since March 2008.

The big unknown for the coming months is President Barack Obama's plan to help up to 9 million borrowers avoid foreclosure through refinanced mortgages or modified loans.

It remains to be seen whether the lending industry will fully embrace it, despite $75 billion in incentive payments.


Information from: The Star-Ledger,

Follow Action News on Twitter

Get Action News on your website

Follow Action News on Facebook

Click here to get the latest Philadelphia news and headlines from across the Delaware and Lehigh valleys.