Over the past few years national foreclosure statistics have been on the rise. Whether reading the newspaper, watching the news, or surfing the internet, the number of foreclosures and short sales continue to make headlines. These trends are evident in the Gloucester county real estate market. Although foreclosure numbers are growing at a slower pace in 2008, foreclosures are still having a strong impact on our Gloucester county real estate market. Realtytrac.com is reporting that one in every 615 New Jersey households have been involved in foreclosure filings, which is up 11.8% from February 2007. As a prospective buyer or seller of Gloucester County real estate it's very important that you understand basic foreclosure terminology. Here's a quick list of terminology. Please fe...
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