New York Foreclosures over 900 days to resolve.

[ZenOps]

http://www.usatoday.com/money/econom...g-longer_n.htm

"In New York and New Jersey, the average foreclosure took more than 900 days in the first quarter this year"

The backlog of foreclosures is staggering, the absence of people willing or able to fork over money to take on a foreclosure is just as staggering. I'm seriously beginning to think that the $1 house will make a comeback.

[TomcoPDR]

Originally posted by ZenOps
http://www.usatoday.com/money/econom...g-longer_n.htm

"In New York and New Jersey, the average foreclosure took more than 900 days in the first quarter this year"

The backlog of foreclosures is staggering, the absence of people willing or able to fork over money to take on a foreclosure is just as staggering. I'm seriously beginning to think that the $1 house will make a comeback.

That's like 2.5 years after default to get someone outta a bank owned house. If Rob had it his way, he'd just shoot the ppl out wouldn't he???

[FraserB]

Anyone wanna go halfs on a Detroit neighborhood and turn it into a track

[ZenOps]

Originally posted by TomcoPDR


That's like 2.5 years after default to get someone outta a bank owned house. If Rob had it his way, he'd just shoot the ppl out wouldn't he???

Yup Rob Anders would just shoot first. If he wants to invade the US for Detroit and New York property let him - I want the last of the 33 million ounces of Comex silver.

[Xtrema]

Originally posted by ZenOps
[url]The backlog of foreclosures is staggering, the absence of people willing or able to fork over money to take on a foreclosure is just as staggering. I'm seriously beginning to think that the $1 house will make a comeback.

I read it differently.

The foreclosure process is stretched out due to new requirements. That mean people getting foreclosed on can skip payments longer before they get kicked out @ loan owner's expense.

There will be no $1 houses any time soon. Cheap houses will be snatched up by rich people that made a killing the since the recession rebound.

[ZenOps]

That probably has a lot to do with it. The lawyers themselves are starting to get overworked and/or lazy about processing the proper paperwork. Which means they have to start over again...

Keeps the lawyers employed for sure, they get paid by the state and the hour.

[Idratherbsidewayz]

Originally posted by FraserB
Anyone wanna go halfs on a Detroit neighborhood and turn it into a track

Holy fuck I had this idea before. Absolutely!