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IPFS News Link • Housing

Understanding The Foreclosure Market: The Numbers Are Really Ugly

06-10-2010 • Nakedcapitalism.com/

The average borrower in foreclosure has been delinquent for 438 days before actually being evicted, up from 251 days in January 2008, according to LPS Applied Analytics…. More than 650,000 households had not paid in 18 months, LPS calculated earlier this year. With 19 percent of those homes, the lender had not even begun to take action to repossess the property — double the rate of a year earlier.

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Reported By Jack Gregson

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