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DiNapoli: Mortgage foreclosures continue to spike (Updates)

New York State Comptroller Thomas DiNapoli is seen

New York State Comptroller Thomas DiNapoli is seen on Sept. 19, 2014. Photo Credit: AP / Mike Groll

ALBANY - (Updates with detail from report on Long Island)

The mortgage foreclosure crisis that drove millions from their homes nationwide during the recession is still slamming New Yorkers and hitting hardest on Long Island, according to state Comptroller Thomas DiNapoli.

His report released Monday showed continued high levels of mortgage foreclosures that remain significantly above pre-recession levels.

DiNapoli said pending foreclosure cases grew 27 percent from early 2013 to May 2014. That's a new total for over 91,600 cases statewide.

The highest number of pending foreclosure rate is in Suffolk County, where one in 35 housing units faces foreclosure. The next most severely hit county is Nassau, where one in 40 units faces foreclosure.

"The foreclosure crisis is far from resolved, and there are still too many people losing their homes," DiNapoli said. "In many places the situation has continued to get worse. Foreclosed properties displace families and weigh heavily on local communities, reducing property values and eroding tax bases. We must continue efforts to help homeowners and stem the spread of foreclosure-induced blight."
 

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