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.
Posts Tagged ‘New York short sales’
New York Foreclosures Up
Posted in Foreclosures, Short sales, The Market, tagged New York foreclosures, New York loan modifications, New York real estate market, New York Realtor, New York short sales on December 29, 2009| 1 Comment »
J. Philip Faranda Broker-Owner (914) 723-8900
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