2016-11-15nypost.com

``More than 1,100 NYC households fell into foreclosure in October, a 32 percent increase from September, and a 37 percent increase from last year. Queens, which has been hard-hit since the foreclosure crisis began in 2007, had 400 new cases last month, nearly double the number of a year ago.

...

"People think the foreclosure crisis is toward the end, and it really isn't," said Rose Marie Cantanno, supervising attorney of the Foreclosure Prevention Project at the New York Legal Assistance Group. "There are still a lot of people stuck in the middle, trying to do something, but having trouble [negotiating with their lender]."

...

After the federal Home Affordable Mortgage Program, or HAMP, ends on Dec. 31, lenders are unlikely to continue offering HAMP-style income-based modifications with interest rates as low as 2 percent.

The crisis seems to be continuing in high-priced markets... wonder why...



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