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Foreclosure time-lapse in new Fed maps
Wondering how bad the foreclosure crisis has gotten on Long Island?
A new interactive map released by the Federal Reserve Bank of New York lets users click a button and watch foreclosure hot spots on Long Island light up as the crisis intensifies from fall 2007 through 2011.
Users can view three time-lapse maps showing the percentage of mortgages in foreclosure, those delinquent by 90 or more days and those delinquent by 60 days. The Long Island maps show rates for each ZIP code over time. The tri-state maps are broken down by county.
Users can pause the time lapse and move their computer’s cursor over each ZIP code or county to display the foreclosure or delinquency rate for that area and time period. The New York Fed expects to update the feature as more information becomes available about mortgage delinquency and foreclosures in New York, New Jersey and Connecticut.
The new feature aims to “provide relevant and timely analysis to help inform the public, policy makers, and community leaders about these ongoing conditions,” Kausar Hamdani, senior vice president of regional and community outreach at the New York Fed, said in a statement.