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Chapter 9 Of Real Estate Principles By Charles J. Jacobus

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As seen in Chapter 9 of Real Estate Principles by Charles J. Jacobus, a foreclosure can be a costly and drawn out process. Some legislatures are looking for ways to reduce the cost and lengthiness of these procedures.
Currently, the process of foreclosure can take between 300 and 540 days in Pennsylvania. With the properties being vacant for so long, they begin to decay which reduces the property value of not only that property, but also the community. A bi-partisan legislation is being currently being considered in Pennsylvania; it would help to shorten the process to 60 days. This would make Pennsylvania the eighth state to have a “fast-track” foreclosure law. For a property to be considered for the “fast-track” foreclosure, it must first

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