Foreclosure Home Housing & Foreclosure Reports New York Foreclosure Activity Drops in January

New York Foreclosure Activity Drops in January

Print Email
Comments Add Comment

Statewide filings down 8 percent from December

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 1,672 New York properties in January, an 8 percent decrease from December and 42 percent below the level reported for January 2011, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

New York had the 47th highest foreclosure rate, reporting one in every 4,849 New York housing units with a foreclosure filing in January.

Putnam County posts top foreclosure rate in the state for January
 One in every 1,092 housing units in Putnam County had a foreclosure filing in January — 4.4 times the state average — the highest foreclosure rate of all New York counties for the month. Rockland County had the second highest rate of one in every 1,196 housing units with a foreclosure filing during the month — 4.1 times the state average. Orange County had the third highest rate of one in every 1,651 housing units with a foreclosure filing during the month — 2.9 times the state average.

Kings County leads state in foreclosure activity in January
 Kings County led all counties, reporting 292 properties with foreclosure filings for the month. Nassau County had the second highest total, reporting 229 properties with foreclosure filings. Suffolk County was third, reporting 194 properties with foreclosure filings. Fourth highest was Monroe County, recording 124 properties with foreclosure filings. Bronx County was fifth highest, tallying 99 properties with foreclosure filings for the month.

State a minor contributor to total foreclosure activity in January
 New York accounted for 1 percent of the 210,941 properties with foreclosure filings reported nationwide in January. Total U.S. activity increased by 3 percent from December, but was still down over 19 percent from the level reported in January 2011. One in every 624 U.S. housing units received a foreclosure filing during the month.

“Although overall foreclosure activity was down from a year ago for the 16th straight month in January, we continue to see signs on a local and regional level that the frozen-up foreclosure process is beginning to thaw,” said Brandon Moore, CEO of RealtyTrac. “Foreclosure activity increased on a year-over-year basis for the first time in more than 12 months in Florida, Michigan, Indiana and Pennsylvania, following a pattern we saw in late 2011 in states such as California, Arizona and Massachusetts.

“We expect the pattern of increasing foreclosures to continue in the coming months, especially given the finalized mortgage and foreclosure settlement reached in early February between 49 state attorneys general and five of the nation’s largest lenders,” Moore continued. “The settlement sets forth clear guidelines for lenders and servicers to follow when foreclosing, which should allow them to push through some of the delayed foreclosures from last year. Other roadblocks to foreclosure are still in place at the state level, however, including legislation altering the foreclosure process and lawsuits against lenders. We expect to see somewhat uneven trends in local and regional foreclosure numbers going forward as lenders work through these additional legislative and legal roadblocks.”

 

New York Top Foreclosure Rates By County – January 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

n/a

n/a

New York

0

1,135

0

304

233

1,672

4,849

0.13

n/a

 

 

 

 

 

 

 

 

 

 

Putnam

0

30

0

0

5

35

1,092

0.57

4.44

Rockland

0

78

0

0

9

87

1,196

0.52

4.05

Orange

0

59

0

7

17

83

1,651

0.38

2.94

Richmond

0

72

0

15

1

88

2,007

0.31

2.42

Nassau

0

199

0

16

14

229

2,045

0.31

2.37

 New York Top Foreclosure Totals by County – January 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X   HU (rate)

% Chg    Dec 11

% Chg   Jan 11

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

2.89

-19.28

New York

0

1,135

0

304

233

1,672

4,849

-7.68

-42.05

 

 

 

 

 

 

 

 

 

 

Kings

0

244

0

31

17

292

3426

0.69

-47.20

Nassau

0

199

0

16

14

229

2045

16.84

-29.75

Suffolk

0

132

0

47

15

194

2938

-41.39

-63.26

Monroe

0

105

0

13

6

124

2585

-3.88

853.85

Bronx

0

82

0

11

6

99

5171

5.32

-46.77

 


Print Email < Back to Housing & Foreclosure Reports
Printed from www.RealtyTrac.com

Comments

Add Your Comment

You must be logged in to leave a comment. Login | Register

Submit


Search Foreclosure Reports