Fast-tracking foreclosures on vacant properties in states that handle foreclosures through the courts "could result in substantial cost savings" for all involved, according to a study by the Federal Reserve Bank of Cleveland.

For example, in the judicial foreclosure states of Ohio and Pennsylvania, researchers estimate savings for various stakeholders could amount to at least $24 million annually.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry