New York foreclosure courts face seven-year backlog: RealtyTrac

Other states, like New York and New Jersey, are still seeing huge delays in the foreclosure process–986 and 984 days respectively, says RealtyTrac, but they too are starting to ramp up, as.

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The number of U.S. homes set on the path to foreclosure slid to a seven-year low in the third quarter, reflecting a gradually improving housing market and fewer homeowners falling behind on.

Eslava’s case reflects the state of confusion among lenders and courts as they struggle to keep up with a backlog of millions of delinquent homeowners making their way through the foreclosure.

LOS ANGELES – The number of U.S. homes set on the path to foreclosure slid to a seven-year low in the third. foreclosure listing firm RealtyTrac Inc. said Thursday.. including New York.

Eslava’s case reflects the state of confusion among lenders and courts as they struggle to keep up with a backlog of millions of delinquent homeowners making their way through the foreclosure.

A surprise uptick in home foreclosures by banks might mean that the long-discussed "shadow inventory" is finally coming to the residential housing market. Thirty-eight states posted year-over-year increases in real estate owned (reo) properties in May, according to a report released on June 18 by.

This was a good thing for the entire real estate market.Pennsylvania does not have ANY redemption period for MORTGAGE foreclosures after the sheriff has auctioned the property in a mortgage foreclosure. There is a time period during which a sheriff sale can be challenged in court, but that is.

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New Jersey. Foreclosures in New Jersey took around 1,212 days to complete. Florida. The Florida foreclosure process took on average 1,196 days. (To learn about the basics about foreclosure laws in these states and others, see our Key Aspects of State Foreclosure Law: 50-State Chart.) States With the Fastest Foreclosure Timelines

RealtyTrac says this a positive trend because it means some of the foreclosure backlog is beginning to be processed. New York, however, is still operating at a slow burn.

LOS ANGELES (AP) – The number of U.S. homes set on the path to foreclosure slid to a seven-year low in the third quarter, reflecting a gradually improving housing market and fewer homeowners falling behind on mortgage payments.