As the housing market continues to recover from the Great Recession, the overall number of foreclosure starts has fallen on a nationwide basis. However, there are more than a dozen states where that trend reversed this year, and foreclosures completed in the second quarter of 2016 took an average of 629 days. For communities dealing with a glut of abandoned properties and the servicers charged with protecting properties in default, long foreclosure timelines can be a nightmare.
This white paper explains how servicers are working with communities to mitigate the effects of vacant and abandoned properties, both through legislation and through a revolutionary clearboarding process.
- Learn more about the foreclosure fast-track legislation in Ohio that can serve as a model for other states to reduce the foreclosure timeline.
- How communities at risk are using clearboarding to reduce crime and save money.
- How servicers can secure properties in default without negatively affecting surrounding property values.
Date: September 2016