The amount of time it takes to foreclose on a home is increasing, meaning that delinquent borrowers can stay in their houses for months after they stop making payments, according to Freddie Mac.
Freddie Mac, which, along with Fannie Mae finances about half of all U.S. mortgages, says that homes now take as long as eight months to work their way through the foreclosure process, The Financial Times…
Continue reading Freddie Mac: Delinquent Borrowers Staying in Homes Longer
Freddie Mac: Delinquent Borrowers Staying in Homes Longer originally appeared on DailyFinance on Mon, 25 Oct 2010 07:16:00.
Filed Under: Economy, Bank of America, Real Estate, Credit