Bronx Foreclosures Surge Amid Tax Debt Crisis | New York City News

Foreclosures in the Bronx are skyrocketing, nearly doubling from last year with 109 first-time filings in Q2 — the highest in seven years. While NYC overall saw a slight drop, the Bronx’s spike is fueled by tax-lien foreclosures driven by a trust targeting older, unpaid property tax debts — a trend hitting hardest in the Bronx due to local debt handling. With the borough already having the city’s lowest homeownership rate, this surge underscores a deep affordability crisis, often triggered by unexpected shocks like job loss or medical bills that hit lower-income communities hardest. But there’s hope: new city policies now cap tax debt thresholds for foreclosures, offering crucial relief. And if you miss a payment, act fast — New York State’s expanding protections and resources can help you avoid losing your home. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/9f379ffcf24d9921