Queens is the City's Ground Zero of Foreclosure Auctions
Sept. 7, 2016 — Rate spikes to levels not seen since the nadir of the mortgage meltdown.
The second quarter of 2016 saw a spike in New York City foreclosure auctions to levels not seen since 2010, with almost half of the foreclosures taking place in Queens, according to a report issued by PropertyShark.
Of the 673 properties scheduled for first-time auctions across the city, 302 were in Queens, mostly in southeastern neighborhoods in and around Jamaica. Some areas of the Bronx and southeastern Brooklyn also saw high foreclosure rates, while only 25 homes were auctioned off in all of Manhattan during the second quarter. The number of foreclosures on Staten Island rose slightly, from 51 to 55.
“People were victimized by predatory lenders and all these bad loans that haven’t gone away,” Robert Tilley, a foreclosure counselor at the Neighborhood Housing Services of Jamaica, told DNAinfo. "This is the continuing fallout from all of that."