According to an article in the New York Post on April 29, New York-area foreclosures are up 34 percent for the first quarter of this year, which is far lower than the national rate that roughly doubled over last year. In Brooklyn, one in every 241 homeowners is now in the foreclosure process. That is more than double the number of Brooklyn households in that situation a year ago.
This is not good news, however, it could be worst. The article also brings out that the state with the most foreclosures is Nevada, where one in 54 households is in foreclosure. Now that’s bad.
