Foreclosures poised to surge

More than 14,000 New York City homes will be in some stage of foreclosure by the end of this year, according to the Neighborhood Economic Development Advocacy Project, which would represent the highest foreclosure rate in more than a decade and a 60 percent increase over 2006. Brooklyn neighborhoods Bedford Stuyvesant, Flatbush and East New York, and Queens neighborhoods Rochdale and Jamaica are among the city areas hardest hit by a jump in foreclosure filings. more [Crain’s]