How long have you been hearing of lenders taking to start the foreclosure process in Longmont?

Profile picture for April Neuhaus EPRO
Hello,

I have been noticing a trend of the larger banks to be quite back logged on filing NED's for past due mortgages. However, the smaller, local banks are proceeding much faster. I recently talked to a BOA customer who was more than 24 months behind on their loan and still had not been served with a NED. Any other observations?
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October 28 2011 - Longmont
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Profile picture for COREXRE
Weeks --- if not months!!  Many delay thinking things will change for the better and they, as a bank, have more pressing problems!!  Further, adding to their REO bucket is not really advantageous to their balance sheets.
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December 10 2011
 
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DiscussionHow long have you been hearing of lenders taking to start the foreclosure process in Longmont?
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