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New York City Foreclosures Climb in First Quarter: WSJ

New York City Foreclosures Climb in First Quarter: WSJ


[ASSESSOR]Associated Press In the first quarter of this year, there were 4,226 foreclosures across the city, according to a new study.

The foreclosure problem hit New York City homeowners later than most other cities, but the problems are growing. In the first quarter of this year, there were 4,226 foreclosures across the city, up 16.3% from 3,635 foreclosures in the same period a year ago, according to data compiled by the Furman Center for Real Estate and Urban Policy at New York University.

Queens and Brooklyn were responsible for more than 70% of all foreclosures in the city during the quarter, with 1,556 in Queens and 1,546 in Brooklyn.

Manhattan was last on the quarterly foreclosure list with 164 compared with 98 a year ago, according to the Furman Center.

Write to Constance Mitchell Ford at constance.mitchell-ford@wsj.com

[ASSESSOR_frcls]

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Times Square Bomb Suspect's Conn. Home Was in Foreclosure

Times Square Bomb Suspect's Conn. Home Was in Foreclosure


Updated 1:49 PM EDT, Tue, May 4, 2010

 

AP

The man accused in the car bomb scare in New York over the weekend defaulted on a $200,000 mortgage on his Shelton home and the property is in foreclosure, court records show.

The Associated Press has obtained records that show that Chase Home Finance LLC sued Faisal Shahzad in September to foreclose on the home.

On Tuesday morning, authorities were at the two-story grayish-brown Colonial, which looked as if it had been unoccupied for a while, with grass growing in the driveway and bags of garbage lying about.

The foreclosure records show Shahzad took out the mortgage on the property in 2004, and he co-owned the home with a woman named Huma Mian.

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Kenneth Eric Trent, www.ForeclosureDestroyer.com

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