Foreclosure Homes in Little Egg Harbor
Homes buyers in Little Egg Harbor, and all over New Jersey, waiting for another wave of foreclosures to hit the housing market might not see the significant rise in foreclosures experts were forecasting.
New Jersey is a judicial foreclosure state meaning the foreclosure process has to wind its way through the court system. As a result the banks have been careful to make sure all their paperwork is complete and accurate which has slowed the process significantly.
In addition, lenders are looking for ways to keep delinquent borrowers from falling into foreclosure. They are opting to either refinance their loans or agreeing to more short sales where they agree to a sales price that is less than what is owed on the mortgage and , because even the lengthy short sale process is shorter than getting the courts involved and less costly.
Lenders put the brakes on many home foreclosures as their procedures were questioned after the robo-signing scandal came to light in September 2010. The April, 2012 mortgage settlement had cleared the way for them to proceed with foreclosure by laying out clear guidelines on how they could pursue borrowers who had missed payments and clear their backlogs of delinquent loans.
Find all bank owned homes in Little Egg Harbor and Tuckerton (08087) below. Some of these properties are not yet listed for sale.
If you'd like information on foreclosure homes or short sales in Little Egg Harbor, contact Little Egg Harbor REALTOR® Laura Giannotta at 609-384-6121.