Comptroller: Mortgage Foreclosures Down Substantially in NY Since 2013

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Mortgage foreclosures across New York State dropped 46 percent between 2013 and 2018, that according to a recent report issued by the State Comptroller’s Office.

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Those figures include a 48 percent drop here in Cortland County since 2015, with the Central New York region as a whole showing a 40 percent decrease.

Most areas of the state have experienced substantial improvement over the past four years.

As of mid-2018, only four counties had foreclosure rates over 1 percent, while 38 counties and three NYC boroughs had rates below 0.50 percent.

The western part of the state continues to have generally lower rates than counties in the east.

DiNapoli last reported on mortgage foreclosures in 2016, when New York state was experiencing high levels of foreclosure activity nearly a decade after the housing bubble burst.

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