It now takes more than 3 years to forclose in Brooklyn


By zzyzzx   Follow   Fri, 27 Apr 2012, 12:54pm   152 views   0 comments
In Baltimore MD 21230   Watch (0)   Share   Quote   Permalink   Like   Dislike  

http://www.bloomberg.com/news/2012-04-27/brooklyn-shelters-homeowners-with-longest-foreclosures.html

Lenders took an average of 1,187 days -- more than three years -- to repossess a home in Kings County during the last three months of 2011, according to data compiled by Bloomberg. The protracted process led to just 32 fourth-quarter foreclosure completions in a borough where more than 27,000 homes got delinquency notices last year, New York Department of Financial Services data show.

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