Research Article
Dynamics of Housing Price: Foreclosure Rate Interactions
Table 1
Foreclosure systems.
| Metropolitan area | Method of foreclosure | Typical months to foreclosure sale | Statutory right of redemption |
| Cleveland | Judicial | 8 | None | Dallas | Power of sale | 1 | None | Denver | Power of sale | 2 | 2.5 months | Las Vegas | Power of sale | 5 | None | Los Angeles | Power of sale | 5 | None | Minneapolis | Power of sale | 3 | 6 months | New York | Judicial | 8 | None | Phoenix | Power of sale | 4 | None | Portland | Power of sale | 9 | None | San Diego | Power of sale | 5 | None | San Francisco | Power of sale | 5 | None | Seattle | Power of sale | 1 | None | Washington DC | Power of sale | 2 | None |
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Source: Clauretie and Sirmans [5, p. 313].
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