The Real Deal New York

Nearly 30,000 NYC property owners near foreclosure: report

Brooklyn leads the five boroughs with over 10,000 at-risk properties
June 09, 2014 05:15PM

Nearly 30,000 New Yorkers, primarily in low-income communities, are in danger of losing their homes to foreclosure, according to a new report by State Senator Jeffrey Klein’s office.

The numbers for New York are at odds with the rest of the country, where foreclosure rates have moderated, reports the New York Daily News, which obtained a copy of the report. Minority communities account for 80 percent of the preforeclosures, according to analysis from Klein’s office.

The majority of homeowners who have missed multiple mortgage payments as of last month own property in Brooklyn. The borough accounts for 10,308 of the 29,729 at-risk owners, reports the Daily News.

Queens came in second with 10,060 pre-foreclosures. The gap widens significantly in the Bronx and Staten Island, where Klein’s office counted 4,408 and 4,410, respectively. Manhattan is the city’s healthiest borough with only 843 owners behind on payments.

Senator Klein is seeking to close a loophole that denies homeowners court-mediated settlement conferences with banks that can help them avoid foreclosure. He is working with Assembly member Helene Weinstein — whose district includes parts of Sheepshead Bay, Flatlands and East Flatbush – to pass the legislation by the end of the month. [NYDN]Tom DiChristopher