Real Estate News – November 3, 2011

Loans in foreclosure have been delinquent an average of 624 days — a record high, according to Lender Processing Services’ September report (via REALTORMag):

Individuals who feel they fell victim to improper foreclosure practices in 2009 and 2010 will soon have a chance to fight back against lenders. The Federal Reserve is giving those who feel they were “financially harmed” during the foreclosure process the opportunity to request an independent review, and possibly even be compensated for their loss, it announced Tuesday (via

Cuba announced Thursday that it will allow real estate to be bought and sold for the first time since the early days of the revolution, the most important reform yet in a series of free-market changes under President Raul Castro (via

Home auctions are on the rise: According to, a real estate auction Web site, from January to September of 2011 there have been 96,388 residential auctions posted on its site. Compared to last year’s 50,412 home auctions during the same time frame, that’s a 48 percent increase (via REALTORMag):