Interesting statistic.
The time from last payment to foreclosure sale in judicial states is 761 days, which is six months longer than in non-judicial states.
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker
Hi, Lehel
With respect,
The Right to a Trial by a Jury of your Peers, or the right to Appear before a Judge, whether in a Civil Matter or a Criminal Matter, is Fundamental to a Civilized Society.
I am glad to live in Florida, where Citizens get their day in Court.
Nov 16, 2011 05:11 PM
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247
That is average time. If one is fighting the judicial it could be extreemly long periods of time.
Nov 16, 2011 05:37 PM
All Seasons Real Estate, Inc. - Covina, CA
REALTOR of choice
Fred - CA is a non judicial state ... the nice thing is that we have laws that limit the lenders to the foreclosure and no deficiency ... unless they can prove wrong doing ... works out well for most people that are over their heads
Time - even here it takes a long time to get through the process ... after about 90 days of no payments a notice is given that they will file an NOD in 30 days ... than the NOD is filed and 90 days later the trustee sale notice is filed and 21 days later the home is sold at the courthouse ... so even here it can be an 8 month process .... however ... since the banks are so backed up and don;t want any more reos, the process is closer to twice that time .... I have had clients that have not made payments in more than two years and a few are close to three years ....
Nov 17, 2011 01:49 AM
Rainer
301,254
301,254
Lehel Szucs
REALTOR of choice
Comments(3)