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It now takes more than 3 years to forclose in Brooklyn

By zzyzzx   2012 Apr 27, 5:54am   332 views   0 comments   watch (0)   quote      

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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