Furman Center Releases New Report on Foreclosed Properties in New York City
On January 14, 2010, the Furman Center released a new report, Foreclosed Properties in NYC: A Look at the Last 15 Years. The report analyzes the outcomes of 1-4 family properties that entered foreclosure in New York City between 1993 and 2007, paying particular attention to trends in recent years. While foreclosure filings continue to rise, little is known about what happens to those properties—how many homeowners are able to stay in their home, how many sell their homes, how many complete the foreclosure process and end up in REO. This report sheds new light on these questions. View the press release.