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New York Home Foreclosures
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New York City - Fewer New Yorkers are at risk of losing their homes, but the city's foreclosure woes are far from over. The number of New York homeowners who received foreclosure notices declined 6% last month to 1,885 compared with April, according to stats released Wednesday by foreclosure listing firm RealtyTrac. The decline from May 2008 was 9.3%.
The decline in foreclosure filings - default notices, scheduled auctions and bank repossessions - are a positive for the city, RealtyTrac spokesman Daren Blomquist said, although he cautioned that "the housing market is still very fragile.
Queens continued to be hit hardest by foreclosure notices, with 713 filings, though the rate of foreclosures in the borough was down nearly 13% from April and down nearly 16% from May 2008.
Citywide, one out of every 1,764 homeowners received some form of foreclosure filing, while the rate is one in every 398 homes nationwide.
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