Bergenfield, New Jersey (PressExposure) March 23, 2009 -- NJLispendens, http://www.njlispendens.com is releasing pre-foreclosure listing information to the public for the month of January. NJLispendens offers detailed pre-foreclosure information updated daily, allowing real estate investors, lenders, and Realtors to locate recently filed foreclosure actions as they are recorded in the courts. NJLispendens is reporting a minor increase in pre-foreclosure listings from December 2008 to January of 2009.
The records show that from December 1st to December 31st 2008 there were 4,566 pre-foreclosure records filed. From January 1st to January 31st there were 4,580 records filed. NJLispendens attributes the small increase to a lack of a major change in the economy as the new Barack Obama administration is getting settled in. Barack has aggressively dealt out plans to lower foreclosures since his inauguration on January 20th but we have yet to see a major impact in the foreclosure market. The increase slightly adds to the total number of pre-foreclosure filings that have risen substantially since last yearâs records for the same time period; a jump of almost thirty percent due to the continuing economic recession.
The slight increase in New Jersey lis pendens filings coincides with mixed confidence in the federal government. There are still a great amount of foreclosures occurring on a national basis. Barack Obamaâs stimulus plan was created with hopes of lowering mortgages to sustainable levels and to encourage homeowners to restructure their loans. NJ Lispendens expects an increase or decrease in mortgage defaults in New Jersey over the next few months depending on how homeowners and lenders react to the new legislation. Also, NJLispendens expects the new laws to take effect over time and not have substantial impact on foreclosures in the near future as lenders slowly regain confidence.