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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: ChanceIs who wrote (74613)	3/23/2007 11:46:57 AM
From: Travis_Bickle	Respond to of 306849

Laws are tough there, I think it is easier in florida. You have to notice the owner/occupant but they usually don't show so the thing takes three minutes. If you can't find him to serve him you have to make reasonable efforts to find him but usually they don't want to be found.

To: ChanceIs who wrote (74613)	3/23/2007 11:47:25 AM
From: John Vosilla	Read Replies (1) \| Respond to of 306849

'The banks have been through this a thousand times. Things can go very wrong, it takes a whole lot of time, and is expensive. The state will always give the homeowner every break possible under the legal system - and Hillary/Dodd are about to make that worse. Banks would have to be complete idiots not to begin foreclosure immediately. They can always schedule a foreclosure date further out in time if they felt they could negotiate effectively and productively with the owner (eg work out a short sale). Ancillary Thought: Given the "surge" in defaults, one can expect the foreclosure processing time at the courthouse to get quite lengthy.' Yes it all seems to be headed in that direction as you describe. I've personally seen a couple as ugly as yours but that is not the usual case with divorce/loss of job /relocation making a vacant home a more likely scenario once you get the certificate of title. Remains to be seen if more folks than usual are extra pissed off at the system for putting them in this mess due to media/political bias now that they were not the ones responsible for the toxic/predatory loans..