The number of foreclosures on Long Island continued to drop over the last month, but experts warn of dramatic increases in the near future.

Foreclosures across the U.S. fell by 7 percent in November and by even more on Long Island.

In Nassau, foreclosures dropped to 252 in November from 306 the month before for a total decrease of 18 percent. Suffolk County foreclosures fell 45 percent from October to November, from 294 to 162.

Connie Losandro, of Long Island Housing Partnership, says the drop in foreclosures is likely due to a new law that gives people 90-days to re-negotiate mortgages with their lenders. She says once the grace period is up, in early spring, foreclosures will likely skyrocket.

RealtyTrac, which tracks foreclosures, warns there could also be a spike in foreclosures next month as more people lose their jobs.

Nassau - Office of Economic DevelopmentLong Island Housing Partnership, Inc.