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New York foreclosure courts face seven-year backlog: RealtyTrac

Foreclosures are ticking upward in the commonwealth, and they are above average in parts of the midstate, according to RealtyTrac. The foreclosure rates in Dauphin and York counties exceeded.

Fewer US homes entered foreclosure track in 3Q by ALEX VEIGA, Associated Press – 10 October 2013 00:35-04:00 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 housin

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The number of New York foreclosure auctions scheduled in May was up 118% from a year ago, an indication that foreclosures that have been locked in limbo for years are finally starting to make.

New york posts longest foreclosures in U.S.. seven-years for New York state courts to clear all current foreclosure. RealtyTrac estimates it will take New york 87 months to clear that.

 · 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.

Primed for Trouble: Pace of Mortgage Distress Shifts to Prime Borrowers borrowers who typically have higher credit scores than subprime borrowers but still pose more risk than prime borrowers), the serious delinquency rate has also risen, to 3 percent from 1 percent only a year ago. These patterns contrast sharply with those in the prime-mortgage sector, in which less than 1 percent of loans are seriously delinquent.

U.S. homes lost to foreclosure up 25 pct on year – News. – In all, 338,836 properties received a foreclosure-related warning in August, up 4 percent from July, but down 5 percent from the same month last year, RealtyTrac said. That translates to one in.

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.

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New Foreclosure Filings Fall to Seven-Year Low – TheStreet – New Foreclosure Filings Fall to Seven-Year Low.. have seen a growing backlog of foreclosures as courts are overwhelmed by the sheer number of cases.. — Written by Shanthi Bharatwaj in New York.

In New York, it took an average of 1,037 days, or nearly three years, for the foreclosure process to run its course in the third quarter, the longest of any state. maine clocked the shortest.

At the rate the New York court systems are currently working through the backlog of foreclosure cases, it will take more than seven years to clear, according to RealtyTrac. New York is a judicial state, whereby foreclosures are completed through the court system. But as cases mounted, the state developed the largest foreclosure timeline in the.