Despite nationwide drop, Suffolk foreclosures rising
Despite recent numbers that show fewer Americans are losing their homes, Suffolk residents saw an increase in foreclosures by 45 percent from May 2009 to May 2010.
RealtyTrac, an online realty database, says foreclosures across Long Island have increased by more than 7 percent in the same time frame.
Though figures taken over the last few months show a nationwide drop - and a drop in Nassau County foreclosures - experts say the numbers from over the span of a year are more accurate.
Economists say Suffolk County is especially hard-hit because there are many more young families, sub-prime mortgages and first-time homebuyers who are stretched thin.