In 2006, just one Long Island community had more than 200 lis pendens -- the first step in the foreclosure process -- during the period Newsday analyzed. This year, that number climbed to 12. Foreclosures have spread across Long Island, touching nearly every community.
Foreclosure crisis bulldozing through LI's neighborhoods
The number of lis pendens filed on Long Island more than doubled between 2006 and 2008, according to a Newsday analysis of a foreclosure database provided by The Real Estate Report, which compiles foreclosure and home sales data, in West Islip.
In the first eight months of 2008, banks and other mortgage servicers filed nearly 11,600 lis pendens against Long Island homeowners. The residential and commercial mortgages involved -- which are in default by 90 days or more -- totaled nearly $4 billion, Newsday found.
This is on top of the $6 billion drop in home sales dollar volume that Newsday reported earlier this fall. While the numbers are not directly comparable, together they represent one indicator of the breadth of the housing collapse's impact here.