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Blood in the Sand

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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]