ARE WE ABOUT TO HAVE AN AVALANCHE?
Nearly four million owner-occupied homes exist in New York State. More than a million of those are in New York City. Recent analysis estimates that between 75,000 and 135,000 homeowners are at risk of foreclosure within the coming year. Many experts believe these numbers may be low due to decentralization of collection agencies and short staffing due to the pandemic.
The litigation landscape has certainly changed from what it was a year ago. Since March, 2020, judges, court personal, attorneys and clients have had to adjust to a virtual world that has been both changing everyday and moving very slowly.