Foreclosures in the Empire State!
New York Real Estate Search - Foreclosures, Pre-foreclosures and Tax Liens
Sign up to receive foreclosures by email
New York Related Articles
Brooklyn neighborhoods top subprime foreclosures in nation
Saturday, January 26th 2008, 4:00 AM
A Brooklyn community had the highest subprime foreclosure rate in the state in October, according to Federal Reserve Bank of New York data.
One in four homeowners with subprime mortgages in the 11233 zip code, which spans Brooklyn's Bedford-Stuyvesant and Crown Heights neighborhoods, lost their homes, the Fed said.
The community had a foreclosure rate of almost four times the national subprime figure of 6.89%, which was the highest since March 2003.
Blacks and Latinos are 30% more likely to be charged a higher rate for a home loan than whites with similar credit histories, according to a 2006 study of 50,000 mortgages.
Bedford-Stuyvesant and Crown Heights had 194 foreclosures out of 770 subprime borrowers, Fed data show.
Article Source
Featured Sponsors:
Advertise your business here!
Signup now and be featured on this page. Upload your photo and link to your website! Sign up NOW!
Related News and Articles:
Citigroup to offer help to 500,000 risky mortgage customers
Citigroup plans on ceasing all foreclosures in an attempt to help the nationwide foreclosure problem. Those facing foreclosure that will be reviewed for assistance must have the home listed as a primary residence.
read more
Only Halfway Through the Foreclosure Crisis?
While discouraging for the economy, this may mean there are still plenty of home buying opportunities available for first-time buyers and investors. Foreclosures are making up the majority of homes on the market. And foreclosure sales may be just what it takes to beef-up a lagging housing market.
read more
Trading Down Is the New Real Estate Reality
Even the market in New York City has slowed as international investors are even feeling the market crunch that reverberates through Europe and Asia. Now some of the only million-dollar sales are New York City foreclosures.
read more
Read past articles in the Article Archive