Housing report: Housing listing stress and mortgagee listings increasing again
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As far as mortgagee listings go they reflect loan defaults at-least 6 - 9 months prior.
Banks can't list until the expiry of a Property Law Act Notice served on the defaulting borrower (this gives the borrower 90 days to remedy the default). Before instructing solicitors to send a formal PLA notice the Bank will send several ordinary letters notifying of default (more months). Banks will also try and work things through with the borrower if possible. Adds up to 6-12mths before listing.
Matlock1974 2 years ago
Good one, Mr Hickey .I`m looking forward to hearing about the commercial property collapse in America
fluentread 2 years ago