ML-Implode News - Housing recovers faster in non-judicial foreclosure states

``By contrast, in states where laws allow large numbers of homes in the process of foreclosure to remain in legal limbo, often empty and unsold, home-price recoveries are hindered because lenders are prevented from recovering and reselling the units to buyers who'll fix them up and add value.
Pro Teck Valuation Services, a national appraisal firm based in Waltham, recently completed research in 30 major metropolitan areas that dramatically illustrates the point. All the fastest-rebounding markets in October -- those with strong sales, price increases and low inventories of unsold houses -- were located in so-called non-judicial states, where foreclosures can proceed without the intervention of courts.''

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Housing recovers faster in non-judicial foreclosure states