They’re BAAAAACK! Foreclosures soar 48% in the County: Stricter Financing Rules coming

 WPCNR County Clarion-Ledger. From the Office of the Westchester County Clerk. January 7, 2014:

“Foreclosure actions filed in Westchester County this year (2013) represent a forty eight percent increase over last year,” reported Westchester County Clerk Timothy C. Idoni who serves as Clerk of the Westchester County Supreme Court where foreclosure actions are heard.

The Office of the Westchester County Clerk reported two thousand six hundred and ninety four (2,694) foreclosure actions started between January 1st and December 31st of this year, as compared with one thousand eight hundred and thirteen (1,813) last year.  Three hundred and sixty nine (369) foreclosure judgments have been entered in 2013, in comparison to two hundred and eight (208) entered during 2012.  A month-by-month breakdown of foreclosure filings follows:

Jan

Feb

Mar

Apr

May

June

July

Aug

Sept

Oct

Nov

Dec

Total

2006

100

119

159

120

140

128

112

136

117

162

130

123

1,546

2007

146

132

252

181

145

156

176

226

179

201

181

191

2,166

2008

243

231

285

224

202

225

238

242

73

96

71

76

2,206

2009

124

154

210

266

240

266

280

319

332

320

249

363

3,123

2010

260

181

222

210

208

262

219

247

216

209

110

141

2,485

2011

133

145

144

150

157

156

155

153

106

113

143

100

1,655

2012

105

131

143

148

150

147

192

162

159

184

142

150

1,813

2013

207

200

275

269

265

210

252

228

138

227

195

228

2,694

 

“Later this month, stricter mortgage financing rules go into effect which will no doubt curb foreclosures down the road,” shared Idoni.  “But it is hard to predict the immediate impact these rules will have on the Westchester housing market and the current foreclosure burden”.  Westchester Residential Opportunities (WRO), a non-profit housing agency with offices in White Plains and Mount Vernon, conducts Mortgage Default Orientation sessions most Wednesdays in their White Plains Office.  Trained counselors are available to help at (914) 428-4507 or by visiting www.wroinc.org.

 

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