However, there are state-by-state averages, which Lender Processing Services Inc. (LPS) tracks each month. Nationwide, homeowners facing foreclosure are collectively 611 days late paying their respective mortgages.

The top places where foreclosures on average take the longest include:

• New York (767 days)
• Florida (757 days)
• New Jersey (708 days)
• Hawaii (681 days)
• Washington D.C. (676 days)

The top places where foreclosures on average take the shortest include:

• Wyoming (398 days)
• Nebraska (407 days)
• Alaska (411 days)
• Idaho (416 days)
• Arizona (418 days)

Homes in states that follow the judicial foreclosure process typically take longer to get through the system because the courts are so overburdened. Non-judicial states, therefore, are going to typically recover faster, according to Herb Blecher, a senior vice president for analytics at LPS, in a recent interview with BusinessWeek. com.

For more on the foreclosure laws in your state click here. To search foreclosed homes for sales in your area click here.

Easy come, easy go.

The big spending Teresa Giudice, who stars on “The Real Housewives of New Jersey” reality show, will be forced to auction off many of her worldly possessions as part of a bankruptcy filing, according to People.com.

Televisions, sofas, chairs, chandeliers, as well as a boat and jet ski — even a suit of armor — are scheduled to hit the block at their Towaco, N.J., mansion on Aug., 22, 2010, at 12 p.m. ET. To check out a complete list of available items click here.

Giudice, who was looking for a “fresh start” after claiming a downturn in the economy crippled the family finances, is currently appealing the bankruptcy auction.

From her attorney, Jim Kridel:

“Obviously we have objections to what they’re trying to do…. I don’t think Teresa is happy seeing all her belongings displayed on the Internet. Clearly they are under the microscope because they are famous.”

If the auction goes off as planned, interested bidders are required to present a $300 refundable deposit at the time of registration. In addition to their possessions, the six-bedroom, five-bathroom “rococo chateau” is for sale for a little less than $4 million.

And their opulent 11,000 sq. ft. home in Towaco, N.J., which includes marble and onyx floors and countertops throughout (see pictures right here), could be headed for the foreclosure auction block. New York Post reports that the $1.8 million eight-bedroom, 5.5-bathroom mansion is currently in default.

If the home is lost, it wouldn’t be a first for the couple.

Banks have already repossessed a $279,000 home at the Jersey shore, as well as an investment property in Lincoln Park. Another million-dollar home in Clifton that they owned has also recently been taken back.

All told, Teresa and Joe are $11 million in debt and see bankruptcy as a “fresh start.”

Teresa is not the only “housewife” to face foreclosure — Tamra Barney, Jeana Keough and Lisa Wu Hartwell, among others, have all had to deal with their own real estate realities. To read more about them click here.

This brings new meaning to the term “Boat House.”

Rather than a date with a wrecking ball, this original Robert Venturi-made home in Long Beach Island, N.J. — also known as the “Lieb House” — was relocated by barge to a new location in Glen Cove on New York’s Long Island, according to the New York Times.

The total cost of the unusual moving method was in the six-figure range, which is apparently a good deal for a piece of history — Venturi is among the nation’s most prominent architects and a Pritzker Prize winner. He has been described as one of the “most influential architects of the twentieth century.”

He’s a pretty big deal.

So it’s no wonder that new owners Deborah Sarnoff and her husband Robert Gotkin — who currently own another Venturi-designed home — were willing to go to such great lengths to preserve the “modern” work of art. It is expected to be used as a guest cottage at their Glen Cove residence.

And there’s no need to repairs despite the odd trek says a Venturi film maker who was on the scene:

“It looks terrific, I’m a little speechless. There no damage, not even a glass, not even a scratch. It looks like it’s been unwrapped from a box.”

Check out video highlights of the relocation mission after the jump.

“The Garden State” is taking a $40 million step to help its distressed homeowners, enacting two bills that are designed to help assist those who are facing foreclosure.

New Jersey Governor Jon Corzine today signed the legislation into law, which earmarks $25 million for a program that allows cash-strapped homeowners to refinance their first mortgages, as well as another $15 million to help those who have already lost their homes to default remain in them as tenants in “rent-to-own”-type situations.

Here is what Corzine had to say about the initiatives (via Newsday.com):

“[this is] the single worst economic challenge this country has faced in the last 150 years, except the Depression. … We are proactively putting in place actions on housing stabilization that are unequaled across the country as far as I could see.”

In addition, the state will introduce a mediation program that provides those feeling the foreclosure pinch with access to counselors and lawyers to help them avoid foreclosure situations at no cost.

For more information on these foreclosure programs in New Jersey, as well as to seek assistance or determine if you are eligible, click here.

“Prince Chunk” — a 44-pound homeless cat that was found meandering the streets of Voorhees, N.J. — has a new home, according to a Yahoo!News report.

The 10-year-old feline was abandoned by its owner earlier this month because of a foreclosure situation. “Powder” — the cat’s real name — was taken in by the Camden County Animal Shelter until a home could be found for him.

It’s a story that captured national headlines due in large part (no pun intended) to Prince Chunk’s rotund appearance. In fact, the cat appeared on “Live with Regis and Kelly” — a major morning program that is beamed into millions of living rooms nationwide.

The unlikely high-profile public relations campaign was apparently effective because more than 400 people expressed their interest to become the adoptive parents of “Prince Chunk.” And one south Jersey family who already has two cats has been selected out of the bunch.

Let’s hope that he doesn’t eat his new owners out of house and home.

Legislation was introduced today in New Jersey that would create stricter requirements for mortgage solicitors in an attempt to reduce the growing number of foreclosures, according to the Herald News.

Currently in the Garden State mortgage solicitors — who are also known as loan officers or originators — need to fill-out a one-page form and fork over about $100 to issue loans on behalf of New Jersey lenders.

It’s not much in terms of applicant due diligence, considering families often plunk down hundreds of thousands to realize their dreams of homeownership.

And that’s the reason Trenton politicians and two state mortgage associations are throwing their support behind this bill.

Here’s a snip:

“… [the] legislation today that would require training, licensing exams and criminal background checks for loan officers. While mortgage-company owners must follow certain regulations, few of their employees do…. Many experts think the profitable commissions and low-education requirements for loan officers help contribute to skyrocketing foreclosure rates — as homeowners are pushed into mortgages they can’t afford.

Housing advocates stress that licensing requirements aren’t a magic bullet. Pending legislation in Congress and some state legislatures could do more to clean up the mortgage industry, they say, by holding lenders responsible for a borrower’s best interest.

According to the clip, as the housing market boomed over the last several years, the ranks of unregulated loan officers increased and flocked to the subprime market because these loans translate into big commissions.

In these cases, it appears that the mortgage servicers are looking out for their own interests rather than the homebuyers.

The moral of the story: Find a loan officer with a solid track record — one who comes highly recommended. Ask friends, family members Realtors® — anyone who has experience buying homes — about a trustworthy mortgage servicer.

It will pay off in the long-run … literally.