[grania]

How does the foreclosure problem ever go away? Every month, the cost of maintenance inches up. Homeowners in a squeeze aren't keeping up on repairs, so the best deal for some is to "run out" the mortgage by living there until foreclosure.

FWIW, where I am a high percentage of the houses at or near foreclosure have found new owners. The prices have gone up a bit, so there's been turnover. If this is typical, it's not all bad.

[SeekAndFind]

RE: Homeowners in a squeeze aren’t keeping up on repairs,

I am NOT surprised at NJ being #1.

Their property taxes are in the FIVE DIGITS.

So, add THAT ( the five digit property tax ) to your home repairs, maintenance.