6.19.2011

But they're working as fast as they can

Foreclosure Backlog Gives Homeowners a Reprieve - NYTimes.com

In New York State, it would take lenders 62 years at their current pace, the longest time frame in the nation, to repossess the 213,000 houses now in severe default or foreclosure, according to calculations by LPS Applied Analytics, a prominent real estate data firm.

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