A bill that would accelerate the process to foreclose mortgages on vacant and abandoned residential properties in New Jersey has been signed by Gov. Chris Christie.

The law, S-2156, allows judges to enter foreclosure judgments for residential real estate that is deserted, therefore allowing banks to not deal with the time-consuming default foreclosure process. In the third quarter, RealtyTrac said New Jersey documented the second longest state foreclosure timeline nationwide, where it takes 931 days to complete the foreclosure process.

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