Foreclosure rates down across state

Mar 9, 2019

A new report indicates that mortgage foreclosure rates have dropped nearly 50 percent across New York State.

The report was released by State Comptroller Thomas DiNapoli, and it covers the years between 2013 and 2018. This follows the aftermath of the nationwide financial crisis of 2007 - 2009 which led to foreclosure rates of close to 2 percent. The western portions of New York State tend to have lower foreclosure rates than eastern counties.

New York State Comptroller Thomas DiNapoli
Credit WBFO / WBFO News

DiNapoli sees the lower foreclosure rates as benefiting municipalities as well as families who are not losing their homes.