AmericanForeclosures.com

December 28, 2008

NJLispendens Announces November 2008 Pre-foreclosure Filings

New Jersey Pre-foreclosure Company Announces November Pending Foreclosure Records

Bergenfield, NJ December 21, 2008- NJLispendens, www.njlispendens.com is releasing pre-foreclosure record information to the public for the month of November. NJLispendens offers detailed pre-foreclosure information updated daily, allowing real estate investors, lenders, and Realtors to locate recently filed foreclosure actions as they are recorded in the courts. NJLispendens is reporting a slight decline in pre-foreclosures listings from October to November.

The records show that there were 4,264 pre-foreclosure records filed from October 1st through October 31st. There were 3,080 pre-foreclosure records filed from November 1st through November 30th. NJLispendens attributes the decline to the state-observed holidays in November, during which courts do not accept new filings. Despite the decline, the percentage of foreclosures has risen substantially since last year’s records for the same time period; a jump of almost thirty percent due to the continuing economic recession.

The decline in the number of New Jersey lis pendens filings in November can also be attributed to a greater number of loan modifications, extended foreclosure terms, and some lender’s mandated moratoriums. NJ Lispendens expects an increase in mortgage defaults over the next few months due to a lack of economic recovery and the moratoriums imposed over the holiday season.

For additional information about the new search options on NJLispendens, contact Joseph Fanning at americanforeclosures@gmail.com or visit www.njlispendens.com.

NJLisPendens.com is a product of American Foreclosures, Inc. Created in 1999, www.NJLisPendens.com answers an increasing need for real estate professionals, real estate investors, and home buyers to locate current, dependable, and inexpensive leads with the ease of access that the internet provides.

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