in_the_media
Sale of local foreclosures jump 91 percent in third quarter
Posted Jan 1, 2013
Media Outlet:
Scranton Times-Tribune
Sales of repossessed properties in the Scranton/Wilkes-Barre metro area jumped by 91 percent from July 1 to Sept. 30, compared to the prior three-month span.
Pennsylvania is among states requiring judicial approval for foreclosures, which results in more delays in the system, said Forrest Huffman, a Fox School of Business professor of real estate and finance. "The foreclosure process itself tends to make the transition longer," he said.