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Timothy C. Idoni

Westchester County Clerk

PRESS RELEASE

April 23, 2018

For Immediate Release

Contact:  Yao Lawrence Cunningham (914)995-3082

                                                                                                                             

Some Optimism on Foreclosures

County Clerk Says Numbers are Encouraging

 

There’s some optimistic news on the Westchester County foreclosure front based on the 2018 first quarter filings and judgments. According to Westchester County Clerk Timothy C. Idoni, whose office handles the cases, filings are down 7% from 2017 and judgments dropped 2.8% during the same time period.

 

This year has seen 294 filings from January through the end of March. During the same time period, 241 judgments were filed, the lowest in the past five years. Filings, the first step in the foreclosure process, have dropped significantly over the past five years with a high total of 2,696 in 2013. In 2017, the total filings were 1,209.

 

County Clerk Idoni indicated that the days of massive refinancing and subsequent failures to meet obligations appear to have subsided. “We seem to be into a more stable financing market and resultant stability in mortgage payments. Reduced foreclosures are good for our homeowners and the community as a whole.”

 

The figures for the past four first quarters:

 

Year  Filings  Judgments 
2015 569 267
2016  415 387
2017  316 248
2018 294 241

Foreclosures can often take two to three years to clear the courts. Idoni added, “One foreclosure is too many. But those facing foreclosure can try to avoid it by getting professional assistance.”

 

 

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