Foreclosure rates rose in New York

Nationally, clearing of shadow inventory a sign of stabilization

TRD New York /
Oct.October 31, 2012 01:30 PM

Foreclosure rates last month — as measured by foreclosure inventory as a percentage of all mortgaged homes — rose 0.9 percent, year over year,  in the state of New York, according to a CoreLogic report released today. The rate was down, month over month, to 5.3 percent, a 8.4 percent decrease from August’s rate of 5.79. Some 4,713 foreclosures were completed in New York during the 12 month period ending in September.

The New York-White Plains-Wayne, N.J. region’s rate of 5.8 percent ranks higher than the national foreclosure rate, which in September was 3.3 percent — nearly the same as in August.

The total number of completed foreclosures nationwide was revised to 59,000 from 57,000 total foreclosures for August; the total number of foreclosures in the U.S. fell to 57,000 in September.

“The continuing downward trend in foreclosures along with a gradual clearing of the shadow inventory are signs of stabilization and improvement in the housing market,” Anand Nallathambi, president and CEO of CoreLogic, said in a statement. “Increasingly improving market conditions and industry and government policy are allowing distressed homeowners to pursue refinancing, loan modifications or short sales rather than foreclosures.” —Christopher Cameron


Related Articles

arrow_forward_ios
Tillary Hotel at 85 Flatbush Avenue (Image via Kutnicki Bernstein Architects)

Isaac Hager’s Downtown Brooklyn hotel heads to foreclosure

Isaac Hager’s Downtown Brooklyn hotel heads to foreclosure
A million homeowners haven’t requested forbearance on their mortgages — and are now at risk for foreclosure and eviction. (iStock)

1M struggling homeowners didn’t request forbearance. Now what?

1M struggling homeowners didn’t request forbearance. Now what?
U.S. foreclosure filings in August jumped 11% as some states ended relief measures, though continued government intervention has prevented sharper increase (iStock)

US foreclosure filings jump as some states end relief measures

US foreclosure filings jump as some states end relief measures
FHFA director Mark Calabria (Getty; iStock)

Fannie and Freddie extend eviction, foreclosure moratorium

Fannie and Freddie extend eviction, foreclosure moratorium
Matthew Kramer, Victor Petrescu, Sebastian Jaramillo and Gov. Ron DeSantis (Getty, iStock) 

Eviction, foreclosure freeze in Florida delaying inevitable flood of cases

Eviction, foreclosure freeze in Florida delaying inevitable flood of cases
The threat of eviction hangs heavily above immigrant families who have lost work as a result of the coronavirus pandemic. (Getty)

Eviction bans don’t always protect the most vulnerable

Eviction bans don’t always protect the most vulnerable
Governor Andrew Cuomo and New York Chief Administrative Judge Lawrence Marks (Getty)

New York courts put the kibosh on foreclosures

New York courts put the kibosh on foreclosures
Toby Moskovits, Fortress managing director Spencer Garfield and the 215 Moore Street Site (Moskovits by Sasha Maslov)

Toby Moskovits’ Bushwick Generator thrown into receivership

Toby Moskovits’ Bushwick Generator thrown into receivership
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...