Tuesday, April 19, 2016
Report: NY Has The Second Highest Foreclosure Rate
A report from Comptroller Tom DiNapoli released Monday found New York has the highest foreclosure rate in the country — a major issue for municipal governments squeezed for property tax revenue.
“Our communities are paying a big price when people lose their homes,” DiNapoli said. “We must continue efforts to help homeowners and implement solutions that support local governments’ economic recovery.”
One out of 21 home mortgages are in foreclosure, with Long Island and the Hudson Valley having the biggest impact on their tax bases in the aftermath of the recession...