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Related News and Articles:
New York state foreclosures may top 50,000 in 2008
Interestingly enough, even local governments are affected by rising New York state foreclosure rates. As home values fall, the less real estate taxes are collected for local government offices.
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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.
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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.
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