We have one that's 9 years and running - all the while, owner has been collecting rent. foreclosures are tough IMOOne of my former coworkers had bragged endlessly about how she and her husband and three kids were living “free” in their foreclosed house for over two years. They finally were evicted, but, as she said, they were able to save over $50,000 for a downpayment on a new home since they hadn’t paid their mortgage in over two years.
I saw a news report on foreclosures that mentioned the average time between the beginning of foreclosure proceedings and eviction was more than 12 months.