Not only are people still being told about their upcomingforeclosure, but the process itself has become even longer.

According to RealtyTrac, foreclosures conducted during the first quarter of this year took, on average, 400 days to complete. This spans from the default notice being mailed out to the bank reclaiming the property. A year ago, this same period lasted for an average of 340 days; in 2007, it took just 151 days to complete the foreclosure process.

This increase in foreclosure delay is due in part to the scandal uncovered last year regarding improperly prepared foreclosure documents. While this is somewhat good news for homeowners, who will be allowed to live in their homes longer without paying, it also represents a loss for the loan holders.

Good news for those not hit by foreclosure yet: default notices, bank repossessions and scheduled auctions all plummeted during the first quarter by 34%.

Hoping to stop foreclosure?  Contact the Malaise Law Firm to get assistance from a Houston bankruptcy lawyer today!