The Real Deal New York

Outer boroughs could feel squeeze from new mortgage rules

February 13, 2014 10:30AM
By Julie Strickland

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Queens was the hardest hit borough in the foreclosure crisis

Queens was the hardest hit borough in the foreclosure crisis

From the February issue: Strict new rules designed to make sure that homeowners avoid mortgages they can’t afford and that lenders won’t face lawsuits from borrowers should their repayment go awry kicked in on Jan. 10. But despite those good intentions, the regulations are sparking concerns that squeezing the availability of credit will unsettle the housing market, especially in New York City’s outer boroughs. [more]

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