{"id":5201,"date":"2012-02-29T11:33:34","date_gmt":"2012-02-29T18:33:34","guid":{"rendered":"http:\/\/stateimpact.npr.org\/idaho\/?p=5201"},"modified":"2012-02-29T11:33:34","modified_gmt":"2012-02-29T18:33:34","slug":"high-end-homeowners-may-fare-better-in-foreclosure-process","status":"publish","type":"post","link":"https:\/\/stateimpact.npr.org\/idaho\/2012\/02\/29\/high-end-homeowners-may-fare-better-in-foreclosure-process\/","title":{"rendered":"High-End Homeowners May Fare Better In Foreclosure Process"},"content":{"rendered":"
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David McNew \/ Getty Images News<\/p>

After a foreclosure, this California home stood vacant.<\/p><\/div>\n

The national foreclosure system appears to favor borrowers whose home loans total $1 million or more.\u00a0 That’s according to a new analysis for The Wall Street Journal<\/a>.<\/p>\n

“Nationally, borrowers with loans of at least $1 million were in default for an average 792 days last year before banks repossessed their homes, according to an analysis by data provider Lender Processing Services. For loans under $250,000, the wait stood at an average 611 days\u2014a difference of about six months.” — The Wall Street Journal<\/em><\/p><\/blockquote>\n

The article says the trend holds true in 45 states, including Idaho.\u00a0 The Journal<\/em>\u00a0reports there are a number of explanations for the disparity.\u00a0 Among them is the fact that, “banks tend to keep larger mortgages on their books, while smaller mortgages are more likely to be bundled into securities and later resold to investors with backing from Fannie Mae and Freddie Mac.”<\/p>\n

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