Posts Tagged ‘New York short sales’

According to the NY Times, foreclosure filings in New York State for 2009 are up 17 percent from 2008, with just over 48,000 cases. Not all filings automatically become bank repossessions- many  will become short sales, loan modifications or get pulled back by the homeowners through other means (like paying the arrearage if at all possible). Even with those options, the sheer raw volume of filings will end up with more REO properties hitting the market.

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