Welcome to Hamptons.com's Members Only section!

Members Only

Username:
Password:

 Remember me
http://www.hamptons.com/gallery/ads/1157.gif

real estate

« national headlines

Added: January 25, 2010

Foreclosure Threat Hits Hamptons Big Shots

  |   2 Comments

Shaky ground - this property at 80 Further Lane in East Hampton tops the list of troubled East End mortgages, at $8.5 million. (New York Post)

Southampton - 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.

Click here to read the full story in the New York Post.


Comments

Guest (sarah) from texas says:
that house is pure mint.like i cant even afford a water cooler so thats way outta the questions but to live there for the weekend would be mint!!!!

Guest (north fork agent) from southold says:
The threat of foreclosure is hitting many "little shots" as well. At what juncture will the light bulb go on for those listing properties out there, but keeping them away from many real estate agents that might have buyers for said homes, assisting in foreclosure prevention? Get on the MLS (most are members, just don't input), provide every opportunity for sellers, and permit buyers (with one click) to learn of sold pricing without waiting for public records, which is what the mls provides, so that they might have a clear picture of the true property values out there (and thus possibly be more inclined to make offers). This is not the time to dig heels in over old methods that are risky for home owners- fiduciary to sellers is being violated absent mls input, from mls members.

Submit Your Comment

Please note, you are not currently logged in. Your comment will be submitted as a guest. To submit your comment as a member, please click here.
Your Name:
Location:*
Comments:*
* Comments will be reviewed and posted in a timely fashion
* All fields are required
Question:*
What color is the sky?
(For spam prevention, thanks)
 
http://www.hamptons.com/gallery/ads/1104.gif
http://www.hamptons.com/gallery/ads/1151.gif