Queens foreclosure rates down slightly

A new report on foreclosures shows that filings in Queens in the second quarter of 2018 are down significantly from a year ago, though numbers in the borough have risen in each of the last two quarters.

According to PropertyShark, a website that focuses on residential and commercial real estate in major U.S. markets, the city had 881 properties go into new foreclosure proceedings in this year’s second quarter, running from April to June.

The report, dated July 6, said that figure is down from 911 in the second quarter of 2017 — a dip of about three percent — and also down from the 920 proceedings initiated from January through March of this year.

“Although having the highest number of new cases in all the boroughs, foreclosure auctions in Queens decreased 8% year-over-year,” the report states.

The borough’s 356 auctions for the second quarter did represent a 17 percent increase over the first quarter of 2018, but still were 32 fewer properties than in the second quarter of 2017.

But it did say Queens’ number of foreclosures since the beginning of 2017 has been “steady, and hovered around the low 200s and high 300s.”

Brooklyn’s numbers dropped 14 percent from last year. Staten Island, with 46 in the second quarter, had a 39 percent increase over a year ago, though the number is far lower than the 185 and 189 the borough saw in the previous two quarters.

The Bronx dropped eight percent year-to-year, while Manhattan, with 26 foreclosures from April through June, saw its figures drop 28 percent both year-to-date and from the last quarter.

Queens — particularly the Southeast section of the borough — continues to be ground zero in terms of an ongoing mortgage crisis.

The PropertyShark report said Queens in the last three months also had the ZIP code with the most foreclosures in the city, with 30 registered cases in 11434, which contains parts of South Jamaica, St. Albans and Springfield Gardens, as well as the entirety of Rochdale.

Those numbers did not likely take leaders at Community Board 12 by surprise.

CB 12 District Manager Yvonne Reddick updates the group on foreclosure numbers every month at or near the top of her monthly report. The meeting held in St. Albans this past June 20 was no exception.

“District 12 is still a hotbed for foreclosures,” she said. But she and other board members reminded members of the public in the Robert Ross Johnson Family Life Center, and those streaming the meeting on the board’s Facebook page, that help often is available for those who seek it in time.

One board member reminded all to open and thoroughly read all official notices that are sent out to homeowners by lenders and the courts, as they have in the same envelope information on assistance that is available to homeowners both before and during the initiation of legal foreclosure process.

Reddick’s oft-repeated advice is that dealing with the problem early in the process is far preferable to what can result if people as a matter of pride or other reasons choose to ignore notices and the ability to reach out for help.

“When the marshal shows up to evict you, people are going to know,” Reddick said.

Numerous groups work with elected officials and through service groups to help residents who either are in foreclosure or are on the brink.

Neighborhood Housing Services of Jamaica is one of the long-established organizations that provides myriad services depending on an individual homeowner’s needs.

Members of the group could not be reached for comment for this story, but yesterday the organization was scheduled to participate in a foreclosure prevention workshop held at the Harvest Room in Jamaica Market, a function also sponsored by the office of state Sen. James Sanders Jr. (D-South Ozone Park) and the Jamaica Now Leadership Council.

This post was originally published here via Google News