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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…
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