It's no great secret that even as distress continues toaccumulate, foreclosures are slow in coming. The leeway banks havebeen given in modifying loans is one factor, and the lengthy timeframe entailed by the process in judicial-

foreclosure states such as New York,

Florida and New Jersey is another. This is giving rise to notesales as distressed asset holders look to cut their losses bygetting rid of those assets as quickly as possible. In the shortterm at least, we can expect to see more such sales, expertssay.

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