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Brooklyn, Queens, real estate trends

Queens, Brooklyn see ‘drastic’ rise in foreclosures

By Michelle Cohen, Mon, November 14, 2016

Ridgewood, Queens, Row House, Historic, Townhouse,

October brought a significant spike in home mortgage foreclosure rates, according to The New York Post, with more than 1,100 homes heading into foreclosure. That number represents a 32 percent increase from the previous month and a 37 percent increase from one year ago, with 400 new cases in Queens (nearly twice as many as a year ago). 365 cases were recorded in Brooklyn, a 20 percent increase, with the state overall seeing a 15 percent increase since September and 10 percent year over year, according research by Attom Data Solutions.

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