Backlog of Cases Gives a Reprieve on Foreclosures

"Millions of homeowners in distress are getting some unexpected breathing room -- lots of it in some places. In New York State, it would take lenders 62 years at their current pace, the longest time frame in the nation, to repossess the 213,000 houses now in severe default or foreclosure, according to calculations by LPS Applied Analytics, a prominent real estate data firm.''