Is this finally a release of the large number of homes that have been backlogged in New Jerseys long bankruptcy process or is it a large number of homes being put up for sale by those underwater that are just trying to move on or is there another reason?

So if one defaults with a mortgage because they cannot make the payments, they take a huge hit with their credit score and finances and may even declare bankruptcy.  

In some instances the "protection" may be dependent upon you filing for bankruptcy.

My question is, we technically filed bankruptcy in spring of 14, putting next spring over the 2 year mark, so will that meet their requirements? 

Minimum of 2 years from Chapter 7 or 13 bankruptcy discharge Minimum of 3 years from Preforeclosure, short sale, deed in lieu, foreclosure from discharge date or release date.Down Payment Requirements The borrower is required to make a minimum down payment into the transaction of at least 3.5% of the lesser of the appraised value of the property or the sales price.

Since moving here two years ago I have took a major decrease in pay, and was forced to finally file bankruptcy 6 months ago.

They had to declare bankruptcy.

One family had past bankruptcy, another family had an eviction on their record, the third family had a criminal record so I passed on all of them (sent them a denial letter).

Other items to take note of include “early outs,” which permit tenants to terminate leases in advance of normal termination dates, downsizing rights that allow tenants to reduce the size of the leased premises, tenant bankruptcies, and claims by a tenant against the landlord.

We Are All DetroitDo you think the damage from the pending bankruptcy of the city of Detroit will be limited to Detroit?