Bergenfield, NJ (PressExposure) June 09, 2009 -- American Foreclosures, Inc., http://www.americanforeclosures.com is announcing featured foreclosure information provided to the New York Times in a full length article, http://www.nytimes.com/2009/05/17/nyregion/new-jersey/17mortnj.html?_r=1. American Foreclosures, Inc. offers updated foreclosure listings including bank owned homes (REOS), and government owned homes. American Foreclosures, Inc. is the publisher of http://www.njlispendens.com, a NJ pre-foreclosure listing website also featured in the New York Times article.
Certain New Jersey counties have been harder hit by foreclosure than others and the local population is feeling the pressure of the mortgage crisis. More than half of New Jerseyâs counties have the highest foreclosure rate in the region. Sub-prime home lending success and failure was shown to be linked to different ethnic groups in the area.
The foreclosure meltdown has been attributed to events ranging from Wall Street woes to the sub-prime crisis. Minority borrowers were caught in the housing bubble as mortgage fraud ran rampant in the sub-prime lending market. The Obama administration has begun to tackle the crisis with the two month old Making Home Affordable program aimed at rescuing struggling, eligible borrowers.
About NJLisPendens.com - is a product of American Foreclosures, Inc. Created in 1999, http://www.NJLisPendens.com answers an increasing need for real estate professionals, real estate investors, and home buyers to locate current, dependable, and inexpensive leads with the ease of access that the internet provides.