foreclosure
A recent study estimates that 47% of foreclosed properties are still occupied. When you first see that stat you may be surprised… but we’re not. What most people don’t realize is that banks aren’t in the business to own homes. They are in the business to loan people money. But when they have to foreclose…
New York is a judicial foreclosure state, which means a lender cannot take a house without suing for it and winning in court. That single fact shapes everything else: the process is slower here than almost anywhere in the country, it moves through defined stages with dates attached, and at several of those stages the…