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Your Morning Credit Crunch

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Citing a PropertyShark study, the Post reports that January was a nasty little month for foreclosures. All five boroughs posted the sharpest overall one-month rise in the past two years. Queens' foreclosures were up 150%, from 54 to 135. Manhattan had an 80% hike, but the yearly rate held steady. Brooklyn foreclosures were up 46%, the Bronx a paltry 14%, and Staten Island was your winner with a whopping 184% hike, up 260% from the same time last year. New York is still better off than some of those crappy other cities. [NYP]