The latest Property Shark report, which was released last week, revealed that since the eviction moratorium came to a close in January, first-time scheduled foreclosures and preforeclosures filings have steadily made a climb in Queens.
While Brooklyn has the most foreclosures and preforeclosures in the city the first quarter of 2022, the World’s Borough is not too far behind on both fronts.
Since the end of the moratorium, there have been 87 first-time foreclosures throughout the city and lis pendens, or preforeclosure filings, have jumped by 13 percent citywide compared to the first quarter in 2020.
In Queens, there were 31 foreclosures, most of which were in the 11434 ZIP Code, which encompasses parts or all of Hollis, Jamaica, St. Albans and South Jamaica. There were also 237 preforeclosure filings — a 54 percent increase from the first quarter 2020, according to the report. Brooklyn had 35 foreclosures and 530 lis pendens filed.
There were 12 foreclosures in Manhattan, nine in the Bronx and none in Staten Island, according to Property Shark. Respectively, they also had 32, 74 and 150 preforeclosures.
The city’s homeowners have increasingly felt the economic pressures caused by the pandemic, said City Council Speaker Adrienne Adams (D-Jamaica).
“Housing is New Yorkers’ top priority for having safer neighborhoods, and our city must focus on keeping people in their homes,” said Adams via email. “We know that Black and brown homeowners in neighborhoods, like those I represent in Southeast Queens, have historically been at greatest risk of foreclosure and losing the generational wealth built over many years, which we must defend.”
Year after year, the city has funded a multimillion-dollar Foreclosure Prevention Initiative, which remains in the current budget to provide assistance to distressed homeowners, she added.
“In its Preliminary Budget Response, the Council has also proposed a property tax rebate for homeowners, which would provide overdue relief,” said Adams. “These are priorities we support to keep New Yorkers in their homes during this crisis.”
Homeowners who have fallen behind or need help navigating the complicated process or who want to avoid foreclosure can get free legal service by contacting the Center for NYC Neighborhoods network at (646) 786-0888.
Councilwoman Nantasha Williams (D-St. Albans) was disheartened that her district, 27, continues to take the brunt of the foreclosure crisis, which has become a recurring issue.
15 comments:
Sheeple seem more focused upon nationality and skin colour instead of culture and ideology.
"We know that Black and brown homeowners in neighborhoods, like those I represent in Southeast Queens, have historically been at greatest risk of foreclosure"
Must be nasty white racism, and not the well understood penchant black and brown people have for not paying their bills and blowing their money impulsively.
Globalism is more of a threat to freedom at the moment then communism/socialism (whether the two ideas coincide with one another is a different debate entirely).
If economic right/economic libertarianism was to succeed (more possibly the former rather than the later), then we need to root out the parasites that not only feed off the system, but control the system. World Economic Forum, bankers, middle management types, etc.
A free market does not fix open borders, a crooked society scale moral compass, corruption in politics and the private sector, and non-economic liberties that middle class gadstan flag wavers hold dear.
A clear mind on the economic question without holding to ideological lines that hold us back is needed desperately and why I see such a big escape right now from both the libertarian side and the very socially soft liberal and economically libertarian post-trump GOP establishment.
Also why I see young people (who have been hit most by the change of culture and effects of globalism) turn to America First and other populist/nationalist groups that stand against the economic system just as much as the system as it stands with it's nose in the air.
"C'mon Man" Why aren’t Ukrainians just moving to Queens?
The Brandon Administration has forced Household debt to 186% of disposable income.
Sounds like the average person is a total moron.
How much higher than 29.99% can credit card interest rates go?
These are mostly Just working class folk trying to get by too, need to borrow like crazy just to live like a first worlder.
I met a guy the other day, working class, made a few mistakes in life but married, has a kid, in his early 30’s, earns jack squat as does his wife, shacks up with relatives because rent and housing is just too damn high. Didn’t used to be this way. Sad to me.
Remember, you will own nothing, and you will like it.
Brought to you by the DemOrat Fed-BlackRock axis of evil.
Nice looking front yards !
In most cases it probably isn't the principal and interest stopping people from paying...it is the government imposed property taxes. Create your own crisis!
I mean they can always go to work to pay their bills....was that racist to say? Oh well.
@"Brought to you by the DemOrat Fed-BlackRock axis of evil."
Yeah, this never happened under TrumpTurd or any other administration for the past 30 years.
You sound like a brainwashed goon of the Putinist party.
C'mon Man said...
Are you done blaming TRUMP troll ? It's getting old... #TDS
Trumps sheeple has allowed this to fester into a boil. Now everyone else is infected. Yay Trump party.
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