USA Today: Foreclosure backlogs could take decades to clear out

Foreclosure backlogs could take decades to clear out
By Julie Schmit, USA TODAY
2011.11.08 07:14 PM

Foreclosure sales are moving so slowly in half the states that at the current pace, it will take more than eight years on average to clear the 2.1 million homes in foreclosure or with seriously delinquent mortgages, new research shows.