In some states, foreclosures can take a very long time, sometimes as long as a few years. According to a foreclosure report from ATTOM Data Solutions, the average number of days for a foreclosure between the first public notice of foreclosure and the end of the foreclosure was a lengthy 948 days in the second quarter of 2022.
If you're facing a foreclosure in a state where it takes a lot amount of time to complete the process, you'll probably have plenty of time before losing your home to:
Read on to learn where (and why) some foreclosures take longer than others.
Depending on the state and circumstances, a foreclosure will be either judicial or nonjudicial.
Judicial foreclosures go through the state court system, meaning the courts are involved in every step of the foreclosure. So, a judicial foreclosure often takes a lot longer than a nonjudicial one.
Backlogged courts, judges' schedules, hearings, and required paperwork all contribute to a prolonged process. Courts are often unable to process large volumes of foreclosures in an expedited manner.
In a nonjudicial foreclosure, the lender doesn't have to go through court to foreclose. For this reason, nonjudicial foreclosures are typically faster than judicial ones. But not always.
Another reason that some states have long timelines is due to federal and state foreclosure prevention efforts.
To learn about your options if you are facing foreclosure, get Nolo's The Foreclosure Survival Guide.
As of the second quarter of 2022, according to ATTOM Data Solutions, foreclosures in the following states took an exceptionally long time.
Nevada had the most extended foreclosure timeline, coming in at a whopping 2,683 days (over seven years).
Hawaii also had long foreclosure timelines, averaging 2,619 days (also over seven years).
In New Jersey, the foreclosure process averaged 1,984 days.
Foreclosures in Louisiana took around 1,901 days to complete.
The foreclosure process in New York took, on average, 1,823 days.
On the flip side, as of the second quarter of 2022, West Virginia's foreclosure process was relatively quick, averaging 82 days. Montana (84 days), Missouri (117 days), Minnesota (141 days), and Arkansas (154 days) also had shorter timelines.
If you live in a state where foreclosures tend to take a long time and you're about to go through one, you likely will have plenty of time to apply for—and hopefully get—an alternative to foreclosure.
But keep in mind that the timelines discussed in this article are averages. The actual length of any individual foreclosure depends on a number of factors, and your foreclosure could be longer or shorter than the state average.
To find out how long a foreclosure is likely to take in your circumstances and get advice specific to your situation, consider talking to a local foreclosure attorney.