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Banks revised the processing of foreclosures and distressed homes in New Jersey, including multi families distressed properties. The lenders' move was prompted by a state court ruling last December.

Realtors in New Jersey advise homebuyers to take advantage of the winter season to look in on properties offered at Sheriff Auctions and other channels. They stated that buying a home during this period offers a lot of benefits.

Relocation of residents is already starting in Jersey City as the area undergoes revitalization. The area received a grant from the U.S. federal government.