Tuesday, August 9, 2011

Foreclosure Timeline Soars to 587 Days

Foreclosure Timeline Soars to 587 Days - UPI.com
The average loan in foreclosure today has not seen a payment for 587 days, a new record and the total of loans in foreclosure or seriously delinquent now is 12.8 percent higher than last year.

Delays in processing foreclosures are continuing to drive up foreclosure processing timelines at the same time that new foreclosures jumped 10 percent in June, according to the June Mortgage Monitor report by Lender Processing Services, Inc., but are still down 16.4 percent from the start of the year

Read more: http://www.upi.com/Business_News/Real-Estate/2011/08/05/Foreclosure-Timeline-Soars-to-587-Days/7271312545901/#ixzz1UaCRIR6v

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