Archive for the ‘New York’ Category
New York Foreclosures Situation to benefit from Bearn Stearns Debacle
Friday, June 29th, 2007According to the New York Times editorial last June 28, the current foreclosure crisis that the state is suffering from may benefit from the Bear Stearns hedge fund debacle. These hedge funds, which almost collapsed a couple of weeks ago, were believed to be tied to numerous subprime mortgages. These mortgages are being blamed for the rise in New York foreclosures rate. And to ensure that there is no danger to the financial system; Congress has decided to intervene on behalf of Wall Street.
Foreclosures Rate of New York Slowed Down by 3 %
Tuesday, June 12th, 2007Comparing the New York foreclosures rate recorded this April to that of last year during the same period, you will observe a 3 percent decrease. But from last March’s report, the state’s foreclosures rate increased by almost 11 percent. Among the 4,099 foreclosure filings, there were actually just 298 New York foreclosures or real estate owned with the rest in different stages of foreclosure.
Q1 2007 New York Foreclosures: Fewer than 2006
Wednesday, April 25th, 2007For the first quarter of 2007, New York foreclosure filings have reached 13,411 homes. Surprisingly, the number of foreclosed homes is slightly fewer than what was reported in 2006 during the same time. To date, New York foreclosures rate places the state at the 23rd place among the states with the most number of foreclosure filings. Nationwide, the total number of homes that entered some stage of foreclosure is 430,000.
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