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RealtyTrac. At the same time, the foreclosure tracking company says the average time to foreclose in the state has extended to more than 400 days since AB 284. Nevada is one of two non-judicial states—the other being Massachusetts— that's seeing longer foreclosure timelines after implementing what Lender Processing Services (LPS) describes as a judicial-like process. LPS measures the foreclosure pipeline as the ratio of 90-plus-day delinquencies and foreclosures divided by the six-month average of foreclosure sales. The company says Nevada's "time to clear" its seriously delinquent loans and foreclosures extended from 27 months in January 2012 to 57 months as of January 2013. That puts Nevada's foreclosure timeline closer to that of judicial states. LPS' data revealed it would take 62 months to clear foreclosure inventory in judicial states as of January 2013, compared to 32 months in nonjudicial states. "As California's recently enacted Homeowner's Bill of Rights is closely modeled on the Nevada legislation, we'll be watching that state closely over the coming months to gauge its impact, as well," said Herb Blecher, SVP of applied analytics at LPS. As of the end of February, LPS reports 14 percent of home loans in Nevada were not current—5.2 percent were winding their way through the foreclosure pipeline and 8.8 percent were delinquent but not yet officially part of the state's foreclosure inventory. New Jersey New Hampshire 90+ Day Delinquency Rate Foreclosure Rate February 2013 2.4% Unemployment Rate 1.6% 2.4% 2.1% 5.3% year-over-year change -1.3% -22.3% 9.4% Top County Coos CouNTy 90+ Day Delinquency Rate Foreclosure Rate 3.2% 3.2% 3.0% 3.3% year-over-year change 6.3% IN THE NEWS -1.3% Top Core-Based statistical Area BerliN, NH-VT 90+ Day Delinquency Rate Foreclosure Rate February 2013 3.2% 3.4% year ago 3.0% 3.3% year-over-year change 7.2% 5.9% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the February 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary February 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. New Jersey rank: 2 90+ Day Delinquency Rate Foreclosure Rate February 2013 4.2% Unemployment Rate 8.2% 9.3% 4.1% 7.7% 9.2% year-over-year change 6.3% 1.1% Top County EssEx CouNTy Foreclosure Rate February 2013 5.5% 98 142 E. Bay Ave Manahawkin, NJ 08050 609-978-9009 (o) 609-384-5109 (c) lglopez@verizon.net www.HomeAllianceRealty.com www.LisaLopezProperties.com year ago 90+ Day Delinquency Rate Source: ForeclosureRadar Home Alliance Realty February 2013 0.9% Days to foreclose in Nevada as of the end of March. Broker of Record 5.8% year ago year ago STAT INSIGHT Lisa G Lopez rank: 35 13.1% year ago 5.7% 12.7% year-over-year change -2.5% 2.6% Top Core-Based statistical Area ATlANTiC CiTy, NJ 90+ Day Delinquency Rate February 2013 6.1% Foreclosure Rate 11.3% year ago 5.7% 10.7% year-over-year change 7.3% 5.9% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the February 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary February 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. Researchers Warn of Foreclosure Backlog in New York, New Jersey As the housing market recovers from the impact of the housing crisis, the New York and northern New Jersey region is still struggling with a growing backlog of foreclosures, according to the Federal Reserve Bank of New York. "While the foreclosure rate has been edging down in the nation recently, the opposite is true in New York and northern New Jersey," New York Fed researchers Jaison R. Abel and Richard Deitz wrote in a blog post. The researchers pointed out that the nation's foreclosure rate, after rising sharply, has settled to about 4 percent, while the foreclosure rate in New York and New Jersey hovers around 8 percent. Using data from CoreLogic, the researchers noted New York and New Jersey also have the second highest foreclosure rate, falling behind Florida. According to the researchers, fewer mortgages accumulate in foreclosure inventory on a monthly basis compared to the national average, but more foreclosures have been getting "stuck" in inventory. On average, properties remain in foreclosure in New York and New Jersey, which are both judicial states, for 503 and 481 days, respectively, while the national average is 381 days. On the upside, the Fed researchers say recent trends suggest home prices have hit their bottom in the region. However, the growing backlog of foreclosures could become a "drag" on home prices as foreclosures deteriorate and bring down neighboring values.

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