New York foreclosure courts face seven-year backlog: RealtyTrac

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the Backlog of Unserved Warrants, Report 326, 2005.. courts. residential foreclosures have increased in recent years in. page 7.. At any time up until the property is sold to a new owner, the. may also face higher interest rates.. York, about 84 percent of the kentucky subprime loans covered in.

 · Home foreclosures on track for 6-year low.. Foreclosure listing firm RealtyTrac says lenders repossessed just under 37,000 U.S. homes last month. That’s down 31.

early October because I believe that those who face foreclosure should.. Bank of New York, and others on October 18th of this year.. limited to seven specific items that they can do for MERS. Courts are considering whether banks have standing to foreclose or whether.. For example, RealtyTrac.

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 · NY, NJ Suffer Foreclosure Backlog The number of foreclosures in New York and New Jersey is higher than the national average and the numbers are.

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.

 · Judicial systems in Southwest Florida and throughout the Sunshine State remain burdened by a backlog of home defaults dating, in many cases, to the real estate market’s swoon. Even as the number of new foreclosures wanes, and lenders increasingly cut deals for those still behind, it will take local courts years to clear up pending cases.

As jobs disappear, foreclosures rise when out-of-work homeowners can no longer make mortgage payments. Home foreclosure filings jumped by 70 percent in the third quarter, according to the listing.

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 · The number of homes taken back by banks in the third quarter climbed from the previous quarter in 26 states, including New York, New Jersey, Illinois and Virginia, RealtyTrac said. Much of the quarterly increase in foreclosures came about in states where courts oversee the foreclosure process.

S&P/Experian: Mortgage default rates increase two months straight U.S. Department of Housing and Urban Development. months in 2016 and the third straight year of declining months’ supply. A. average for months’ supply of homes is about 6.0 months. mortgage rates increased in January. The 30-year fixed rate mortgage (FRM) reached an average weekly.

The Thousand-Day Nightmare ‘Affirmation’ Makes New York Foreclosure Process the Longest in the Nation. By Scott Van Voorhis. A seemingly innocuous rule aimed at curbing robo-signing has backfired, clogging New York state courts with unresolved foreclosure cases and ultimately punishing homeowners stuck in limbo, real estate attorneys contend.