Properties offered at bank foreclosure auctions are expected to rise in the coming quarters as more homeowners fail to pay their mortgage in time, particularly among Northeastern states.
Brooklyn home auctions have not included one unit from among the estimated 3,000 houses financed by nonprofits which partnered with the city of New York to build affordable homes. Of the over 60,000 units built by these nonprofits over the years, less than one percent was lost to foreclosure.
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