It's no great secret that even as distress continues to accumulate, foreclosures are slow in coming. The leeway banks have been given in modifying loans is one factor, and the lengthy time frame entailed by the process in judicial-

foreclosure states such as New York,

Florida and New Jersey is another. This is giving rise to note sales as distressed asset holders look to cut their losses by getting rid of those assets as quickly as possible. In the short term at least, we can expect to see more such sales, experts say.

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