{"id":12998,"date":"2018-06-29T01:47:53","date_gmt":"2018-06-29T05:47:53","guid":{"rendered":"https:\/\/www.shorebeat.com\/brick\/?p=12998"},"modified":"2018-06-29T03:07:17","modified_gmt":"2018-06-29T07:07:17","slug":"brick-has-a-major-foreclosure-problem-on-its-hands","status":"publish","type":"post","link":"https:\/\/shorebeat.com\/brick\/2018\/06\/brick-has-a-major-foreclosure-problem-on-its-hands\/","title":{"rendered":"Brick Has a Major Foreclosure Problem on Its Hands"},"content":{"rendered":"
\"Foreclosure<\/a>

Foreclosure sign. (Credit: Wikimedia Commons)<\/p><\/div>\n

Brick Township\u2019s foreclosure rate is nearly double the state average and five times as high as the national average, leading Brick officials to contract with a firm that will handle record-keeping for the purposes of code enforcement and property maintenance issues for bank-owned properties.<\/p>\n

Brick\u2019s rate, according to RealtyTrac<\/a>, was .28, almost double the state\u2019s .16 average and more than five times higher than the national average of .05. Scott Blaise, a representative from Community Champions, the company that was awarded the contract, said there were 1,300 homes in Brick that are either in danger of being foreclosed upon or are already in the foreclosure process. For comparative purposes, the same metric applied to Jersey City \u2013 a municipality of 270,000 \u2013 translates into 2,200 properties.<\/p>\n