Modified: October 11, 2022 2:53pm
Stay In Your Home campaign to released third Mortgage Default Report
Buffalo, NY- Erie County Clerk Michael P. Kearns and the Stay In Your Home campaign issued its third report of updated lis pendens filed in the Erie County Clerk’s office. The report also confirms that each month an additional 400-500 families have received pre-foreclosure default notices. “These numbers have regrettably stayed consistent since we started tracking this type of notification at the end of August 2021,” stated County Clerk Kearns. “Since that time a total of 5,880 homeowners across Erie County have received a pre-foreclosure default notices.”
Lis pendens filings have continued to increase month over month for the last year as filings are now at pre-covid activity levels. The County Clerk’s office expects to see filings continue to surge as banks catch up on foreclosures delayed and caused by the Covid-19 Pandemic.
“These filings mark the beginning of the foreclosure process not the end,” said County Clerk Michael P. Kearns. “Erie County homeowners have rights. We want to remind people to stay in your home and reach out for FREE help if you’re behind.”
Belmont Housing Resources for WNY assisted in breaking down the numbers collected from the New York State Department of Financial Services (DFS), which show an additional 1,350 home owners in Erie County received pre-foreclosure default notices in the last three months.
“The data is showing us the long term effects the pandemic and the subsequent increases in expenses has had on Western New York families,” said Sandra Becker, Senior Housing Program Manager, Belmont Housing Resources for WNY. “We are very concerned as we head into the winter months as households deal with increases in heating costs that we are going to see this trend continue in the wrong direction.”
Added Kate Lockhart, Vacant and Abandoned Property Program Director, WNY Law Center, “Foreclosure prevention and neighborhood preservation go hand in hand. Any home saved is a Zombie property avoided and affordable, locally owned housing preserved.”
Homeowners who are in need of assistance are asked to contact the Stay In Your Home campaign at 716-828-8429 or go to StayInYourHomeWNY.com.