According to realty market, a research firm, 1 of every 4 houses sold in the 2nd quarter of this year is in some stage of the foreclosure process. J.P. Morgan is stopping the foreclosure process on 50,000 homes to check on paperwork. They say employees may have signed documents that they were not authorized to sign. Other mortgage companies are doing this as well. The review should only take a few weeks and most likely, any errors that may be found will be minor and no one will get their homes back if they were foreclosed on.
(Depending on how long this actually takes and how many mortgage companies do this, could this make the recovery of the property market to take longer than necessary?)
"realty market"? Should this be caps? Are you sure it's not RealtyTrac?
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