Thanks to the Ally Financial foreclosure scandal there's plenty of talk in the industry that foreclosing on a delinquent borrower is going to take a whole lot longer going forward. One investor in delinquent loans told me the other day that the four worst states to deal with in terms of foreclosures (from the servicer/investor's standpoint) are: Florida, Georgia, North and South Carolina.) "The way things stand now, in Florida if you file for bankruptcy you can live in the house for four years rent free," this investor said. "Florida, its seems, changes their foreclosure rules daily." Meanwhile, some participants who were polled at the recent AmeriCatalyst conference in Austin said housing values would not bottom out until 2013…
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