N.J. foreclosures drop as national numbers climb

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					Businesses concerned over Obama’s health care plan
              By MartIn C. DakS                       move would add about $1 trillion to the federal              insurance to their employees and contribute a                 the chin” if obama’s plan passes in its current
President BARACK Obama’s national health              budget deficit by 2019, according to the non-                substantial share toward the premiums, or pay a               form, said Joan Verplanck, president of tren-
care plan moved ahead a notch last week when          partisan Congressional Budget office.                        fee to the federal government that would gener-               ton’s new jersey Chamber of Commerce.
the U.s. senate Health Committee approved the               “one worry is how the government will                  ally equal 8 percent of their payroll,” CBo said.                   “if it’s funded by new payroll taxes, the over-
measure. new jersey business leaders applaud          close that gap,” said Christine Stearns, vice pres-                during his campaign, obama “said there                  all tax rate here could easily be pushed close to 50
the goal — ensuring that everyone has health care     ident of health and legal affairs at the new jersey          would be an exemption for small business, but                 percent,” she said. “that could cripple the ability
coverage — but said they’re worried small-busi-       Business & industry Association, in trenton.                 a $250,000 payroll sets the bar very low,” stearns            of small and medium-sized businesses to create
ness owners will end up footing much of the bill.     “the early indications are that a new payroll tax            said. “in new jersey, it certainly doesn’t take               jobs. Plus, given the state of social security and
      As it stands, the plan — known as Amer-         will be created. that hits new jersey businesses             many employees to hit that level. once again,                 other federal programs, why does anyone think
ica’s Affordable Health Choices Act — would           particularly hard, since we’re a high-wage state.”           these revenue-raisers are likely to hit business-             that the federal government can streamline health
establish a government-run health insurance                 in fact, it could be a double whammy, since                                     lower-wage states.”
                                                                                                                   es here harder than inT:7.5”                                  insurance and wring any savings from it?” u
carrier to compete with private insurers. the         companies either would “have to offer qualifying                   small businesses would likely “take it on                                          E-mail to mdaks@njbiz.com




N.J. foreclosures
drop as national
numbers climb
               By MartIn C. DakS
neW jersey foreClosUres fell in june, buck-
ing the national trend, according to RealtyTrac, an
irvine, Calif.-based provider of foreclosure data.
                                                                                                                                                                         Sally accelerated
      there were 4,333 new jersey properties                                                                                                                              the collection of
with foreclosure filings in june, down 1.7 per-
cent from may and a 13.34 percent drop from                                                                                                                               her receivables.
the year-ago period, according to realtytrac’s
new market report, released last week. one out
                                                                                                                                                                            Thanks to her
of every 808 households in the state received
foreclosure notices, the report said.
                                                                                                                                                                                 new CFO.
      nationally, one of every 380 households
were in foreclosure in june, as the total number
of properties rose to 336,173, up 4.57 percent
from may and a 33.21 percent jump from june
2008, realtytrac said.
      the drop in foreclosures is good news, espe-
cially since new jersey posted better-than-average
numbers for the entire first half of the year, said

				
DOCUMENT INFO
Description: [...] O'Keefe said, the surge in New Jersey home prices relative to income "was not as significant as the 'sand states' like California, Arizona, Nevada and Florida, so our universe of potential foreclosures never reached their level to begin with, and we did not have as far to fall."
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