Blood in the Sand

Foreclosures may not be piling up in Manhattan just yet, but the number of delinquent homeowners in the Hamptons is enough to set off the Post's air raid siren: "In the first three months of this year, banks have launched preliminary foreclosure actions - known as lis pendens proceedings - against a record 120 borrowers in East Hampton and Southampton towns. Twenty percent of those borrowers live in homes that are worth more than $1 million, according to figures from the Suffolk County clerk. And the list gets longer every week." [NYP]

Filed under Outside NYC: The Hamptons, Quicklink, Foreclosures, Hamptons Foreclosures, Mortgage Meltdown

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