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WPCNR COUNTY CLARION-LEDGER. From The County Clerk. (EDITED) January 22, 2009: The rate of initiated foreclosure actions slowed over the last 12 months. Westchester County statistics released by the County Clerk’s Office today show the number of initiated foreclosure actions have been steady the last two years and have kept pace in 2008 numbering 2,166 in 2007 and rising 2% to 2,206 more foreclosure actions in 2008. The rate of foreclosures continued steady, but is down sharply from 2005, and 2006. Foreclosure proceedings in the county grew 50% from 2005 to 2006 and 40% from 2006 to 2007.
Contributing to Westchester foreclosures slowing were the foreclosure reform measures signed into law last August. One part of the new state legislation requires lenders to send pre-foreclosure notices to borrowers at least ninety days before an action is started. That notice encourages the homeowner to seek help and provides contact information for local government-approved housing counselors.
“The measure not only mandates lending reforms for the future,” began Idoni, “but also provides immediate help to residents in danger of losing their homes.” And while 2008 statistics show an overall increase in foreclosure filings, they also reveal a significant drop in foreclosure actions filed in the last four months of 2008:
Filings Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total
2005 83 64 97 98 82 93 83 104 98 85 110 86 1083
2006 100 119 159 120 140 128 112 136 117 162 130 123 1546
2007 146 132 252 181 145 156 176 226 179 201 181 191 2166
2008 243 231 285 224 202 225 238 242 73 96 71 76 2206
“The slowing of foreclosure filings is good news, but
A trained counselor can be reached at (914)428-4507 or visit www.wroinc.org for more information.
The Westchester County Clerk is the Clerk for the Supreme Court where foreclosure actions are heard. Please note that the commencement of a foreclosure action does not mean that a
If a foreclosure is granted, the home or building is sold at a foreclosure auction and the proceeds of the sale are used to pay off the loan. However, some homeowners enter into a repayment plan, secure a modified loan, refinance with another lender or sell their home on their own to avoid foreclosure. The office of the Westchester County Clerk is located at