Foreclosure Statistics

Brooklyn, Bronx foreclosures surge as city rates hold steady, national rates drop

Posted on Thursday, March 17, 2011

More Brooklyn and Bronx homeowners found themselves at risk of losing their homes last month, while foreclosures citywide held steady.
Nearly 1,350 city homeowners received some form of foreclosure notice in February, up 1.3% from January but down 4% from a year ago, according to stats set to be released today by foreclosure information firm RealtyTrac.
With the exception of a sharp dip in November - when banks temporarily halted foreclosures after it was revealed some had rushed the process - foreclosures have hit homeowners at a consistent pace the last few months.
But notices are expected to start rising again. "People are still having trouble making their mortgage payments," said RealtyTrac spokesman Daren Blomquist.
Brooklyn and the Bronx are already seeing foreclosures surge with a vengeance.
Brooklyn saw notices rise 13.4% from January and 26.7% from last year to 627. Neighborhoods feeling the pinch include Flatbush, Bedford-Stuyvesant and East New York.
The Bronx also saw a big jump, with foreclosure notices reaching 216, a 16.1% increase compared with January and a 24.9% jump compared with last year. Baychester and Williamsbridge were two of the worst-hit neighborhoods in the borough.
Nationwide, foreclosure filings - default notices, scheduled auctions and bank repossessions - fell to a 36-month low of 225,101 homes in February, RealtyTrac said.

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