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of Long Island. Five years after the housing bubble burst, the number of unsold Hamptons homes has hit a 30-year high while... 48 homes worth more than $1 million are in foreclosure...
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Last fall, the average mortgage rate rose to its highest level since 2000. Long Island homebuyers were unfazed. Home prices surged in the vast majority of communities, as the available supply of for-sale properties fell to its lowest level in 40 years in December. In the second half of last year, 83% of Long Island communities with at least 25 sales saw home prices increase compared with the same six-month stretch a year earlier, according to the latest comprehensive data on nearly 200 communiti...
"Long Island's two counties, Suffolk and Nassau, are first and fourth in the number of loans at risk of foreclosure in New York State. It was not supposed to be hit this hard, because of its affluence, highly desirable housing stock and relative lack of room to sprawl.' Its roots lie in its racially segregated development. "Long Island now has two housing crises, an acute new one laid over a chronic old one. The old one is a severe shortage of housing for regular people, in a market pathological...
Metro 6 Comments Porsche-driving Long Island squatters evicted by sheriff’s deputies who... in foreclosure for a decade and abandoned for years after members of the family that owned it...
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WHAT TO KNOW ; A new foreclosure law has shifted power toward borrowers and away from lenders, according to local attorneys. ; The law addresses the statute of limitations for filing foreclosure cases and strips lenders of flexibility they were granted through a 2021 decision by the state Court of Appeals. ; The law could help Long Island homeowners who have been involved in lengthy foreclosure cases.