DC Foreclosure Process Among Country’s Longest

Foreclosures in Washington DC take the fifth-longest in the nation, with the average home being in the process for 676 days, Bloomberg reported on October 3, 2011. According to Lender Processing Services Inc., American homeowners facing foreclosure were a record 611 days late paying their mortgages, up from an average 599 days in July and 478 days in August 2010 for homes that had received a notice of foreclosure and were not sold or repossessed by banks. New York had the longest average with 767 days, while Wyoming had the shortest average at 398 days.

The Jacksonville, Florida-based real estate data company also said the total number of U.S. homes with delinquent mortgages fell to 6.4 million in August from 6.98 million a year earlier and a peak of 8.12 million in January 2010. Bloomberg added that there were 247,957 foreclosure starts in August, an increase of 20 percent from July and down 12 percent from a year earlier, before the “robo-signing” dispute began.

The amount of time your house can spend in the foreclosure process might actually be less than the time many you spend seeking foreclosure help. Our Washington DC bankruptcy lawyer wants you to know that if you and your family are facing foreclosure on your home, you can consolidate, eliminate or reorganize your debt as part of the Chapter 13 or Chapter 7 bankruptcy process. A bankruptcy means test can be your first step toward ending creditor harassment and reestablishing credit. If you have questions about how to file bankruptcy in Washington DC, contact our firm today to set up a free consultation. Has your house been stuck in the foreclosure process for longer than you can remember? Washington DC bankruptcy attorney Kevin D. Judd wants to hear from you. Share your thoughts with us.



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