DELAYS????????

Mortgage servicers -- the companies that process monthly payments -- have been ill-equipped to handle the large volume of foreclosures. While it may seem counterintuitive, they seem to have reasons to drag their feet:
· Servicers' philosophies and directives are "constantly in flux,". One may need to raise cash to meet regulatory guidelines, while another may have too much inventory of unsold real estate on its books. Staid corporate cultures and high staff turnover contribute to slow decision-making.

· Servicers don't want to take on the legal and financial responsibilities of owning more homes. As soon as the foreclosure is completed, the lender "immediately assumes liability and carrying costs,". Examples of such costs include property taxes, casualty insurance, repairs and maintenance, and homeowner association dues.
Read more: What delays a mortgage foreclosure http://www.bankrate.com/finance/mortgages/a-foreclosure-takes-forever-here-s-why-1.aspx#ixzz180oiNHsY

Six hundred days. That's how long, on average, mortgage loans in the foreclosure process in New York have been delinquent. That's the longest average in the nation, but not by much, according to LPS Applied Analytics, in Jacksonville, Fla. Loans in foreclosure in Florida, New Jersey, Hawaii and Maine have been delinquent more than 500 days, on average, while home loans in California and Nevada have been delinquent 461 and 427 days, respectively. In the two speediest states, Nebraska and Wyoming, loans in the foreclosure process are delinquent by an average of 358 days.