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

Source: Clauretie and Sirmans [5, p. 313].