Millions of homeowners in distress are getting some unexpected breathing room, according to the off-lead front-page article by David Streitfeld in today's edition of The New York Times.

"In New York State, it would take lenders 62 years at their current pace, the longest time frame in the nation, to repossess the 213,000 houses now in severe default or foreclosure, according to calculations by LPS Applied Analytics, a prominent real estate data firm," the article said.

"Clearing the pipeline in New Jersey, which like New York handles foreclosures through the courts, would take 49 years. In Florida, Massachusetts and Illinois, it would take a decade," the article continued.

"In the 27 states where the courts play no role in foreclosures, the pace is much more brisk - three years in California, two years in Nevada and Colorado - but the dynamic is the same: the foreclosure system is bogged down by the volume of cases, borrowers are fighting to keep their houses and many lenders seem to be in no hurry to add repossessed houses to their books," the article maintained.

All of the major servicers agreed to institute reforms in their foreclosure procedures. In April, the Office of the Comptroller of the Currency and other regulators gave the banks 60 days to draw up a plan to reform their foreclosure procedures, but when the comptroller's deadline was reached last week, it was extended another month, the article noted.

New foreclosure cases and repossessions are down nationally by about a third since last fall, LPS said and in New York, foreclosure filings are down 85 percent since September, according to the New York State Unified Court System, the article said.

The article observed that "Mark Stopa, a St. Petersburg, Fla., specialist in foreclosure defense, has 1,275 clients, up from 350 a year ago. About 75 clients have won modifications, dismissals or sold their properties for less than they owed. All the other cases are pending. 'Banks aren't even trying to win,' said Mr. Stopa."

J. Thomas McGrady, the chief judge of Florida's Sixth Circuit, which includes St. Petersburg, agreed, the article said, noting that he said "We're here to do what we're asked to do. But you've got to ask. And the banks aren't asking."

"The large number of cases nationally - about two million, plus another two million waiting in the wings - have overwhelmed many lenders and the courts. Judges these days are also more inclined to scrutinize requests for eviction rather than automatically approve them. The so-called foreclosure mills - law firms that handled many of the suits for the banks - are in retreat under law enforcement pressure. And some analysts suggest that banks are reluctant to take too many houses onto their books at any one moment for fear of flooding a shaky market," the article said.

In New York, the legislature has mandated that borrower and bank meet to discuss terms under the auspices of the court, but these conferences have turned out to be anything but brief or simple. Instead of one conference, court officials say, 10 are often needed, the article reported.