Sentence examples for judicial state from inspiring English sources

Geoff Smith, a senior vice president at the Woodstock Institute, a nonprofit research organization that specializes in housing issues, said one factor contributing to Chicago's slow sales rate was that Illinois is a judicial state that requires banks to go through a court system to foreclose on a property rather than simply filing a notice to the borrower.

He left the hospital with a walker and was escorted by municipal, judicial state, and federal policemen, along with soldiers of the Mexican Army, to his home in La Mesa delegation in Tijuana.

The judicial states do not include California or Texas.

As of the end of the third quarter, according to the association, 6.6 percent of all loans were in foreclosure in judicial states, compared with 2.4 percent in nonjudicial states.

"We voluntarily paused our process in the 23 judicial states, not because there was evidence of problems — there was not — but because we wanted to ensure our customers they are being treated fairly," said Dan Frahm, a bank spokesman.

The sluggish process has caused a backlog of loans in foreclosure and is slowing the housing market recovery in judicial states, says Michael Fratantoni, the vice president for research and economics at the Mortgage Bankers Association.

"We announced a temporary suspension of evictions and foreclosure sales in the 23 judicial states several weeks ago so we could commence the appropriate review," said Gina Proia, a spokeswoman for GMAC.

Walkaways would probably prefer judicial states because they can camp out in their homes while the banks spend up to a year trying to foreclose.

"As prices go further down, and there are further losses, judicial states can be harder because judges are trying to protect sellers," says Pat Lashinsky, chief executive of ZipRealty, a national broker.

Borrowers in judicial states are no more likely to cure and no more likely to renegotiate their loans, but the delays lead to a build-up in these states of persistently delinquent borrowers, the vast majority of whom eventually lose their homes.

But Ray Brescia, a visiting professor at Yale Law School and an expert in housing law, said foreclosure fraud had been as rampant in judicial states as non-judicial ones.