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May 17, 2012

Live Rent / Mortgage Free for Three Years or More!

The American Foreclosure Process Has Ground To A Halt Something funny happened in the aftermath of the US fraudclosure settlement, in which millions of backlogged housing units were supposed to enter the foreclosure process and begin the clearing of the nearly 9 million housing units in shadow inventory: nothing
.... Not only has the foreclosure process in America ground to a complete halt but as the second chart below shows, the time to liquidation once a property enters 60 day-delinquent status just hit an all time high: that's right, the average time during which a deadbeat can occupy a home without payment if they so choose is 31 months.

Posted by gerardvanderleun at May 17, 2012 9:45 AM. This is an entry on the sideblog of American Digest: Check it out.

Your Say

Nothing is more damaging to a property or a neighborhood than leaving it unoccupied. The money men have finally figured out that is is cheaper to keep 'em than to let them go for thirty cents on the dollar, if not less. And it is hoped the end of foreclosure selling will give a floor to the market, suppporting their incredible underwater inventory instead of driving it further down. They were cutting their own throats by not going all one way or all the other.

All in all, if they were not smart enough to not get into this, they are not smart enough to get out.

Posted by: james wilson at May 17, 2012 1:22 PM

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