Foreclosure numbers are historically about 2x NODs (around half the NODs filed turn into foreclosures). Currently this is no different, suggesting that this relationship is healthy, or at least normal.
However, as you have noted (and I have heard elsewhere): The time between the initial NOD and eventual foreclosure is currently at an all time high (at least on the national level). This suggests a possible unhealthy relationship in which the number of foreclosures should be much higher (also possibly adding credence to the second Tsunami theory).
This bothers me.
Does anyone have local historical data regarding the time between NOD and eventual foreclosure?
(Edit: I may be confused. It may be the length of time between non-payment of a loan and eventual filing of a NOD or foreclosure that is currently running very high. Either way, any information would be appreciated.)
