Foreclosure Vampires in NJ - My9 New Jersey

Foreclosure Vampires in NJ

Posted: Updated:
Beachwood, N.J.(My9NJ) -

New Jersey’s foreclosed homes are filled with 'vampires'. In this case they aren’t the undead, they’re people living in homes going through foreclosure for years and not paying any bills.

People call them squatters or freeloaders but when you dig deeper, it could be the foreclosure process in New Jersey that may be flawed and not necessarily the homeowner getting a free ride.

I chased the story to Beachwood where Christine Saia has been living in her home since 2008 without paying the mortgage. She showed me a stack of documents showing she tried to work things out with the bank but they wouldn’t work with her.

New Jersey’s foreclosure process takes an average of 1,000 days. That's the longest in the nation. If the mortgage provider will not accept mortgage payments or negotiate then the homeowner is stuck in limbo. It's happening all over New Jersey with Hudson & Cape May ranking the highest; 80% of people remaining in the home for years during foreclosure.

Attorney Cheri Robinson told me that the process is even more complicated because lawsuits have proven that several mortgage companies didn’t follow the proper process and may have to start over from scratch years after the process begins.

Mortgage companies may also have an incentive to to allow the process to drag out in a bad market because they can’t sell the houses and a “vampire” will continue to maintain the house for them until the market improves.

As much as it may seem like a sweet deal, in this case homeowners tell us that not paying bills isn’t all it's cracked up to be.

  • Chasing New JerseyMore>>

  • Kids Of Man Killed In Uzi Accident Make Touching Video For Girl Involved In Tragedy

    Kids Of Man Killed In Uzi Accident Make Touching Video For Girl Involved In Tragedy

    Monday, September 15 2014 10:52 AM EDT2014-09-15 14:52:46 GMT
    The story about the 9-year-old New Jersey girl who accidentally killed her firearms instructor, Charles Vacca, while operating an Uzi made national headlines and opened up the debate about the use of guns especially among children. Now Vacca's four children have come out with an emotional and heartfelt video wishing the 9-year-old girl peace.
    The story about the 9-year-old New Jersey girl who accidentally killed her firearms instructor, Charles Vacca, while operating an Uzi made national headlines and opened up the debate about the use of guns especially among children. Now Vacca's four children have come out with an emotional and heartfelt video wishing the 9-year-old girl peace.
  • Photographer Captures Surfers Paradise On Jersey Shore

    Photographer Captures Surfers Paradise On Jersey Shore

    Monday, September 15 2014 10:49 AM EDT2014-09-15 14:49:42 GMT
    Photographer David Nilson has traveled the world swimming, surfing, and photographing the ocean. He's taken his camera to Costa Rica, Fiji, California, and up and down the entire east coast, but some of his most beautiful work stems from right here in New Jersey specifically at Seaside Park, where he was born and raised.
    Photographer David Nilson has traveled the world swimming, surfing, and photographing the ocean. He's taken his camera to Costa Rica, Fiji, California, and up and down the entire east coast, but some of his most beautiful work stems from right here in New Jersey specifically at Seaside Park, where he was born and raised.
  • Halloween Fever Coming To NJ Early This Year

    Halloween Fever Coming To NJ Early This Year

    Monday, September 15 2014 10:42 AM EDT2014-09-15 14:42:52 GMT
    From masks and hilarious costumes to scary displays, shoppers are already starting their preparations for Halloween. With so many costume stores popping up all across the state, it seems that Halloween season is in full swing, despite the holiday being over a month away.
    From masks and hilarious costumes to scary displays, shoppers are already starting their preparations for Halloween. With so many costume stores popping up all across the state, it seems that Halloween season is in full swing, despite the holiday being over a month away.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices