Sunday, November 25, 2012

Sandy delays

"The state's housing market now looks like it will need until the end of next year to work through the backlog of foreclosures hanging over it.

Just as the second wave of foreclosures was reaching the market and replenishing inventory, Hurricane Sandy rolled in to stall their processing for another couple of months.

Darren Blomquist, vise president of foreclosure-information service RealtyTrac, said some of the October decline in New Jersey foreclosure activity from the prior month was due to storm delays of processing and data collection."

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