Foreclosures Up Big Time in Jersey, Pennsylvania


California-based RealtyTrac has determined that home foreclosures have increased nationally from July to August by one percent, but that the figure is 15 percent less than it was in August of 2011. In states that use the judicial system to handle foreclosures, like Pennsylvania and New Jersey, though, deferred foreclosures bubbled up last month.

The report said that 20 states registered year-over-year increases in foreclosure activity, led by judicial foreclosure states such as New Jersey, New York, Maryland, Illinois and Pennsylvania. Pennsylvania saw a 41 percent increase in foreclosure activity from August 2011, the sixth highest jump of any state. New Jersey had the second highest jump at 65 percent, trailing only Kentucky (73 percent). [Philadelphia Business Journal]