Westchester foreclosure filings drop by 27%
The number of judgments rose 8 percent.
WHITE PLAINS - Foreclosure filings in Westchester during the first quarter are down nearly 27 percent from the same period last year, according to statistics released this week by County Clerk Timothy Idoni.
But the number of judgments entered on foreclosed properties rose 8 percent, maintaining a trend from the prior years.
The county has experienced a steady increase in foreclosed properties since 2011. Last year, 1,178 foreclosure judgments were entered, up by 52.6 percent from 2014, when 772 judgments were entered.
The number of foreclosure filings during the first quarter was 416, down by 153, or about 27 percent, from the same period last year. The number of filings in the first quarter peaked in 2013 when 680 cases were filed.
"While the number of filings is still higher than preferred, we are encouraged by the steady decline over the past two years," said Idoni, who serves as clerk of the Westchester County Supreme Court where foreclosure actions are heard. "Judgments remain high due to older foreclosure filings making it through the court."
In New York State, where foreclosure cases are resolved through the court system, the foreclosure process takes more than two and a half years on average, according to RealtyTrac, a real estate information company.
Westchester Residential Opportunities, a nonprofit housing agency with offices in White Plains and Mount Vernon, works to help homeowners facing possible foreclosure, conducting mortgage default orientation sessions most Wednesdays at its White Plains Office. Call 914-428-4507 or visit www.wroinc.org for more information.
Akiko Matsuda