The two major markers of financial distress - bankruptcies and foreclosures - declined in 2011 from the previous year, but the good news is a bit deceiving.
The 34 percent decline in foreclosure filings last year was due mainly to processing delays caused by legal concerns about proper documentation of paperwork, according to a new report by RealtyTrac, an online foreclosure database.
Foreclosures in the fourth quarter of 2011 had taken an average of 348 days to complete, compared with 305 days in the last quarter of 2010.
Read the rest of the article at the Kansas City Star
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