Foreclosures Go Up in New York

New York-Foreclosure filings on 13,664 properties in New York during the second quarter represented a 15% decrease compared to the second quarter of 2008 and a 24% increase over the first quarter of 2009 - well above the national increase of 11%.

According to the New York State Banking Department and RealtyTrac, Orange County, with 643 filings in the second quarter, showed an increase of more than 61% from the first quarter of 2009. It also had the highest ratio of filings in the state, with one in 208 households with a foreclosure filing in the second quarter.

"While New York State overall continues to maintain a relatively low foreclosure rate compared to other states, there are still local pockets with substantial increases in foreclosure activity," said Rick Sharga, RealtyTrac senior vice president.

Queens County, which had dropped to second place in the last quarter, is back in first place, followed closely by Nassau and Suffolk counties. Nassau County saw a sharp increase of 95% when compared to the number of foreclosure filings in the first quarter of 2009. Suffolk County remained relatively flat with a decrease of almost 2%. Rockland and Putnam were also in top five counties based on the ratio of households impacted.

Next in News ►