NY comptroller says foreclosure crisis in state has not yet been resolved as filings surge

Markets Associated Press

New York's comptroller says the foreclosure crisis persists in the state, even worsening in some upstate areas.

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The report Monday notes filings against homeowners unable to make mortgage payments spiked after the housing bubble burst in the 2008-2009 recession, with new cases nearly doubling from 27,706 statewide in 2006 to 47,664 three years later.

The comptroller's office reports that new filings in New York declined for two years under revised court rules that require lenders to affirm claims to property and not simply produce rote documents.

However, after dropping to 16,655 in 2011, new filings climbed to 46,696 in 2013.

Comptroller Thomas DiNapoli says there are still too many New Yorkers losing their homes.

The report says foreclosure filings statewide were 43,868 last year.

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Online:

http://www.osc.state.ny.us/localgov/pubs/research/snapshot/foreclosure0815.pdf