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Started By
Message
re: Mortgage Delinquencies are Spiking
Posted on 7/16/20 at 9:01 am to Lickitty Split
Posted on 7/16/20 at 9:01 am to Lickitty Split
quote:
The foreclosure process differs by state but they can typically be evicted and the property auctioned in a short period of time.
I'd have to check the concentration by state, but if it's Florida, California, and Northeast states it takes several years, just like you said (2.5 years). They have the most ridiculous laws to keep people in their houses. When I used to work for a servicing shop there were stories of foreclosures in the Northeast where squatter laws prevented us from getting people out of their foreclosed house for over a year.
Russian hit another point that you're overlooking. How many people are technically delinquent on student loan payments right now that are still working?
This post was edited on 7/16/20 at 9:03 am
1
Posted on 7/16/20 at 12:10 pm to wutangfinancial
It's not just blue states.
Al Abama has a one-year right of redemption.
Al Abama has a one-year right of redemption.
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