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New Yorkers at risk of losing homes surges 85% in month of November
With city unemployment at 10.3%, the number of New Yorkers at risk of losing their homes surged 85% in November compared with November of last year, according to stats set to be released today by foreclosure listing firm RealtyTrac.
Part of the increase is due to a legal change: A year ago, foreclosure activity in the city was delayed because of a new state law requiring lenders to give some homeowners an additional 90 days’ notice before starting the foreclosure process. Lenders are now catching up.
Read more: NY Daily News
