Servicing

The hidden foreclosure crisis: Properties lost in the system

Not everyone in a neighborhood is willing to let a foreclosure sit interminably. 

In fact, neighbors who face the prospect of falling home values are some of the best advocates for getting local foreclosures back into shape.  

The only problem is some of these interested neighbors and investors are having trouble acquiring the actual properties.

TV station KJRH out of Tulsa, Okla., published a report on a home that was sitting vacant for well over two years. An interested neighbor wants to buy the property but confusion and procedural snags are making it difficult.

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3d rendering of a row of luxury townhouses along a street

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