Empire State Timeline For Foreclosure Actions Leads To 7-Year Backlog Of Cases

Housing Wire reports:

• At the rate the New York court systems are currently working through the backlog of foreclosure cases, it will take more than seven years to clear, according to RealtyTrac.
• New York is a judicial state, whereby foreclosures are completed through the court system. But as cases mounted, the state developed the largest foreclosure timeline in the country. It currently takes an average of 900 days for a foreclosure to wind through the New York system, according to RealtyTrac, which maintains a count of filings at the county level.

For more, see New York foreclosure courts face seven-year backlog: RealtyTrac.

Thanks to Bill Collins of Frontier Abstract, Rochester, NY for the heads-up on the story.