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Only two states, Connecticut and Vermont, allow for a special type of judicial foreclosure known as a strict foreclosure. Under this proceeding, the lender files suit against the borrower who is in default.
States with the shortest average foreclosure timelines for homes foreclosed in Q3 2023 were Texas (160 days); Montana (169 days); Wyoming (177 days); Missouri (211 days); and Michigan (213 days). Nationwide in September 2023 one in every 3,706 properties had a foreclosure filing.
Which state has the quickest foreclosure process? The state with the quickest foreclosure process is Montana, followed by Mississippi, West Virginia, Wyoming, and Minnesota.
ATTOM's latest foreclosure market analysis reported that states with the longest average foreclosure timelines for homes foreclosed in Q1 2022 were Hawaii (2,578 days); Louisiana (1,976 days); Kentucky (1,891 days); Nevada (1,808 days); and Connecticut (1,632 days).