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What is the foreclosure crisis?

The foreclosure crisis was a period of drastically elevated property seizures in the U.S. housing market between 2007 and 2010 . Prior to and during the crisis, mortgage servicing companies processed large numbers of loans without adequate review of the information accompanying them.

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Are foreclosures on the rise in New Jersey?

Legal Blogs and Updates The report, compiled by ATTOM Data Solutions, showed that one in every 1,795 housing units were under foreclosure nationally. New Jersey's rates marked an increase of over 300 percent from the first quarter of 2021 .

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Are foreclosures on the rise in MA?

Massachusetts ranked 17th in the US for foreclosure filings, with 3,411 properties entering foreclosure (0.11% of housing units). The state saw a significant increase of 45.6% from 2023, with one in every 879 households affected . This increase is the fourth highest of all states.

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