New Jersey Attorney Says High Taxes Make for Foreclosure Perfect Storm

Observation and comment by Adam Deutsch, Esq.

” Foreclosures are up 17% through the first quarter of 2015 in New Jersey,” says Adam Deutsch, Esq., of the law firm of Denbeaux and Denbeaux.

“The article “New Jersey still caught in Foreclosure Nightmare” , written by Alan J. Heavens, Inquirer Real Estate Writer,  makes a good point, that much of the sustained problem in New Jersey may be attributable to the state’s tax burden.  New Jersey has the second highest average property tax bill in the country at $8,108 for a single family home.  At that rate, a new assessment could easily be the difference that pushes a homeowner over the edge to default.  This adds to the perfect storm that has created a seemingly never ending housing recession in the state,” he concludes.

New Jersey still caught in foreclosure nightmare

Read more at http://www.philly.com/philly/classifieds/real_estate/20150427_New_Jersey_still_caught_in_foreclosure_nightmare.html#qLL2GTUmkUjyt6Lo.99

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Adam Deutsch

Adam Deutsch

Senior Associate Attorney at Denbeaux and Denbeaux
ADAM DEUTSCH is a Senior Associate Attorney at Denbeaux & Denbeaux currently concentrating his practice on consumer rights litigation. More specifically, Mr. Deutsch represents consumer debtors in plaintiff suits seeking relief under federal statutes including the Fair Debt Collection Practices Act, Real Estate Settlement Procedures Act, Truth in Lending Act, Fair Credit Reporting Act and state statutes such as the New Jersey Consumer Fraud Act.