News

11/09/2007

April 2, 2007:  Westchester County Clerk Timothy C. Idoni announced that 527 foreclosures were commenced during the first quarter of 2007. This figure marks a 39% increase over the first quarter of 2006, and a 116% increase over the first quarter of 2005. These increases follow national trends which have been attributed to a slower housing market and an increase in sub-prime mortgages issued to individuals with poor credit, minimal savings or low incomes in exchange for higher interest rates.

In light of these first quarter figures, County Clerk Tim Idoni urges Westchester residents who may be at risk of having their properties foreclosed, to seek counseling from a reputable counseling agency. "We want Westchester residents to be able to live comfortably in our county and so we encourage residents to take advantage of resources available to them to avoid foreclosure," stated Idoni.  Residents who have received warning letters from their bank or lender, or who have fallen behind on their payments, are urged to contact the Department of Housing and Urban Development (HUD) to obtain the name of a reputable counseling agency. A list of agencies can be found at http://www.hud.gov/ or by calling 1-800-569-4287.

And if a foreclosure action has been brought against you, County Clerk Idoni warns you to beware of foreclosure rescue scams. "Unfortunately an increase in foreclosures also brings with it a new set of con artists just waiting to take advantage of residents who are under the stress of foreclosure action," cautioned Idoni. "Making a bad situation worse can be avoided by relying on a reputable counseling agency or a trusted attorney to guide you through the process." Residents who meet low income guidelines may qualify for free legal services and should visit www.lawhelp.org/ny for more details.

The commencement of a foreclosure action does not mean that a Westchester homeowner will lose their home. Filing a foreclosure action in the Westchester County Clerk's office is the first step of a process which could result in the loss of a home or building. If a foreclosure is granted, the home or building is sold at a foreclosure auction and the proceeds of sale are used to pay off the loan. Deputy County Clerk John Allen noted, "Many homeowners enter into a repayment plan, secure a modified loan, refinance with another lender or sell their home on their own to avoid foreclosure."

The Westchester County Clerk is the Clerk for the Supreme Court where foreclosure actions are heard. Foreclosure actions are filed in our Legal Division, which is also responsible for non-court related county legal functions such as registering a business, filing a lien, applying to serve as a Notary Public, registering a domestic partnership, filing veterans military discharge papers, and accepting Small Claims Assessment Review petitions. The public can visit the Legal Division located at 110 Dr. Martin Luther King Jr. Blvd. in White Plains between the hours of 8:00 a.m. and 5:45 p.m., Monday through Friday, excluding legal holidays to look up legal records, judgments, liens, lis pendens, and other business records. For more information on our Legal Division, please call 995-3070 or explore our website.