Long Island Foreclosure Numbers Fall. Or Do They?

February 19th, 2009 category: Uncategorized

I am glad that researchers and reporters are astute enough to realize when and why foreclosure numbers and statistics need explanation.

Ellen Yan posted this a few days ago on Newsday’s Real LI blog.

Foreclosure-related filings on Long Island last month fell by double digits compared to the same time a year ago, according to figures released last week by RealtyTrac, a California-based online market for foreclosures.

Delinquency, auction and other notices dropped 33 percent in Suffolk, 28 percent in Nassau and 36 percent in Queens, while the average drop across the state was 28 percent, the report said.

James J. Saccacio, RealtyTrac’s chief executive officer, said the moratorium on foreclosures by government-controlled, mortgage guarantors Fannie Mae and Freddie Mac helped continue the drop in filings that started late last year, after several states, including New York, passed laws requiring lenders and servicers to give homeowners a 90-day notice before starting the foreclosure process.

Read the entire post over here.

To get more specific local North Fork or East End Real Estate information, fill out the form below with your questions/comments. We’ve been monitoring the area, and have learned how to find properties coming on the market, and available. If you’re looking for a foreclosure on any part of Long Island, we’ll help you find it also.

This entry was posted on Thursday, February 19th, 2009 at 4:55 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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