Tuesday, January 26, 2010

Foreclose threat hits Hamptons big shots

The New York Post reports:
Hamptons homeowners are facing foreclosure at a staggering rate, a new report has found.

The number of property owners on the East End of Long Island missing three mortgage payments skyrocketed 230 percent in the last quarter of 2009, compared with the same period a year before, according to court filings compiled by PropertyShark.com

Overall in 2009, there were 566 such first-time filings -- called lis pendens, or suits pending. That's an 84 percent uptick over the year before.

The priciest of the bunch is 80 Further Lane in East Hampton, a tony beachfront home with an $8.5 million mortgage, said PropertyShark.com CEO Bill Staniford.



Even the Hamptons