Average Foreclosure Timelines Soar2018-02-012018-02-02http://www.hoosier-realtors.com/wp-content/uploads/2016/09/Hoosier-Logo.pngHoosier, REALTORS®https://hoosier-realtors.com/wp-content/uploads/2018/02/foreclosurerates.png200px200px
The number of foreclosures may be dropping, but a huge backlog is building due to longer processing times. The average time to foreclose jumped to more than 1,000 days nationwide in the fourth quarter of 2017. That marks a 14 percent increase from the previous quarter and a 28 percent increase from a year ago. It also is the longest number of days to process a foreclosure since ATTOM Data Solutions, a real estate data firm, began tracking foreclosure timelines in the first quarter of 2007.
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