The number of homes in the foreclosure pipeline is increasing in states including New York, New Jersey and Connecticut, where the process is slowed by courts, as Arizona, California and Nevada digest their backlog.
Home loans that were delinquent or in foreclosure fell in three states hit hard by the housing market collapse, dropping 19 percent in Nevada, 21 percent in California and 25 percent in Arizona in the year through Nov. 30, Lender Processing Services Inc. reported today. At the same time, they rose 7.4 percent in New Jersey, 5.2 percent in Connecticut and 2 percent in New York, as mandatory judicial procedures delayed seizures.
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