New York Sees 13,664 Foreclosure Filings in Quarter

There were foreclosure filings on 13,664 properties in New York during the second quarter, representing a 15% decrease compared to the second quarter of 2008 and a 24% increase over the first quarter of the year, well above the national increase of 11%. Orange County, with 643 filings, had an increase of more than 61% from the first quarter, according to the latest data from the New York State Banking Department and RealtyTrac. It also had the highest ratio of filings in the state. One out of every 208 Orange County households had a foreclosure filing in the second quarter. Nearby Rockland and Putnam were also in top five counties based on the ratio of households impacted, with one in 264 and one in 272 homes experiencing a filing in the second quarter. The three counties, home to many New York City commuters, represent the spread of foreclosures outside of the immediate metro areas. Only 25 of the 62 counties in the state saw decreases in filings in the second quarter compared to the first quarter. Nassau County saw a sharp increase of 95% over the first quarter. Suffolk County remained relatively flat with a decrease of almost 2%. "It's a positive sign that most counties experienced a decrease in foreclosure activity from a year ago, but it would be concerning if the elevated quarter-over-quarter increases we saw in the second quarter continue in the second half of the year," said Rick Sharga, RealtyTrac senior vice president.