Whole lotta foreclosing going on

FORECLOSURES IN APPLE SOAR 44%
By CARL CAMPANILE, NY Post

The number of foreclosure proceedings shot up 44 percent in New York City last month, nearly double the statewide average, according to a study released yesterday.

Foreclosure filings against Manhattan property skyrocketed 549 percent last month, a figure that was distorted because of actions taken against one 230-unit Midtown condo complex, according to RealtyTrac. Building officials said the complaint involved a payment dispute with a contractor, not the mortgage.

The Manhattan increase was the largest of any county in the state.

Staten Island has the second-worst foreclosure rate in the state, with one out of every 1,023 homes affected.

Foreclosures jumped 33 percent in The Bronx and 26 percent in Brooklyn. The Queens rate was down 11 percent.

The study mirrors another report released week that showed the number of New York State homeowners more than 90 days late in paying their mortgage surged 35 percent in the fourth quarter last year - the biggest jump in delinquencies in the country.