New York's Foreclosure Rate Slows

ForeclosuresRI President and co-founder, Jeremy Shapiro City officials believe nearly 200 homes sold in O'Fallon, Illinois, including foreclosures, were not included when the county approved an increased property tax of more than 4 percent this year. State officials say that the exclusions will not affect property values. Many homeowners are fearful that the discrepancy will affect their home values on top of how much foreclosures are bringing them down. The number of foreclosure filings in New York was up 25 percent for the last twelve months which ended on May 31, even with the slight drop of filing within the last two months. New York bucked the national trend in May, recording a 7 percent drop in filings from April. New York's foreclosure rate in may stood at one filing for every 1,500 households, down from one in every 1,387 households in April. Texas foreclosures were up 16 percent for the first six months of the year in Harris County, putting the county on pace to beat last years. Foreclosure sales totaled 6,683 for the first six months of 2008, up from, 5,739 during the same period last year. Foreclosures slipped in June to 1,034 from 1,119 during the same month last year.

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