EAST HAMPTON, N.Y. — The tony set in the Long Island real estatemarket of the Hamptons may be feeling the nip of foreclosures attheir heels.
A story in the New York Post today finds that in thefirst three months of this year, banks have launched preliminaryforeclosure actions (lis pendens) against a record 120 borrowers inEast Hampton and Southampton towns. About 20% of those borrowerslive in homes that are worth more than $1 million, according tofigures from the Suffolk County clerk.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
