PropertyProf Blog

Editor: Stephen Clowney
Univ. of Kentucky College of Law

A Member of the Law Professor Blogs Network

Monday, January 14, 2013

A Quick Foreclosure Process: The Secret to a Housing Recovery?

The Wall Street Journal looks at the link between efficient real estate foreclosures and the rebound of the housing market:

[T]he rebound is strongest in states that let lenders enforce contracts. We're referring to the difference between "nonjudicial" states that have streamlined foreclosure procedures and the 23 "judicial" states that force lenders to go to court to enforce mortgage contracts. Prices are stabilizing in the former but still faltering in much of the latter, which isn't surprising, except to politicians. Housing markets can't clear until lenders can foreclose on delinquent borrowers and prices fall far enough to attract buyers who can afford the mortgage payments.

Steve Clowney

http://lawprofessors.typepad.com/property/2013/01/a-quick-foreclosure-process-the-secret-to-the-housing-recovery.html

| Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef017ee7571526970d

Listed below are links to weblogs that reference A Quick Foreclosure Process: The Secret to a Housing Recovery?:

Comments

Post a comment