Suffolk County’s Rising Tide: How Climate Migration and Sea Level Rise Are Creating New Foreclosure Defense Challenges in 2024

Suffolk County homeowners are facing an unprecedented convergence of climate change impacts and financial pressures that is fundamentally reshaping the foreclosure defense landscape. In December 2023 and January 2024, Long Island experienced a storm surge–when a storm pushes water inland, with water flowing out from the drains, blocks away from the Patchogue Bay, highlighting the growing threat of flooding and high sea levels that climate experts warn will only intensify.

The Perfect Storm: Climate Change Meets Property Values

A 2018 Union of Concerned Scientists study estimated that more than 300,000 coastal homes will be at risk of regular flooding by 2045, with Suffolk County’s extensive coastline placing it squarely in the crosshairs of this crisis. Suffolk County includes 1,000 miles of coastline and faces climate change impacts such as rising sea levels and more severe weather events that threaten infrastructure through flooding, erosion.

The financial implications are staggering. Among the 17 states analyzed to date, Florida has seen the greatest loss in relative home values at $5.4 billion, followed by New Jersey at $4.5 billion, and New York at $1.3 billion. Research shows that vulnerable homes sold for 6.6 percent less than unexposed homes, with the most vulnerable properties — those that stand to be flooded after seas rise by just one foot — selling at a 14.7 percent discount.

Suffolk County’s Current Foreclosure Landscape

ATTOM’s Suffolk County real estate data indicates that the county has 144 properties in foreclosure and 11 REOs (real estate bank owned) properties, with the current median home price in Suffolk County, NY at $635,500. However, these numbers don’t tell the full story of how climate risks are beginning to influence foreclosure proceedings.

Beyond market trends and prices, it’s crucial to consider the impact of climate risks on the Long Island housing market. The assessment indicates that Long Island’s heat risk could increase, leading to a higher number of hot days per year, while storm risk might elevate, affecting the chances of extreme precipitation events.

New Foreclosure Defense Strategies in the Climate Era

Traditional foreclosure defense strategies are evolving to address climate-related property devaluation. Rising insurance rates will drive coastal homeowners away from their communities, which depend on property tax revenue, with officials noting concerns about homeowners facing 5% deductibles on $2 million coastal homes.

Homeowners facing foreclosure in climate-vulnerable areas now have additional arguments for defense, including:

• Property Devaluation Due to Climate Risk: Demonstrating that property values have declined due to climate exposure rather than borrower default
• Insurance Accessibility Issues: Arguing that rising insurance costs make mortgage payments unaffordable through no fault of the borrower
• Infrastructure Failure Claims: Challenging foreclosures when municipal infrastructure failures due to climate events contributed to property damage

Expert Legal Guidance for Climate-Impacted Properties

For Suffolk County homeowners facing these complex challenges, working with experienced legal counsel is essential. The Law Offices of Ronald D. Weiss, PC have been supplying expert bankruptcy, foreclosure defense, and debt negotiation services since 1993, offering practical, compassionate solutions customized to each client’s financial situation.

When seeking legal assistance for climate-related foreclosure issues, homeowners should look for a Foreclosure Attorney Suffolk County who understands both traditional foreclosure defense and the emerging challenges posed by climate change. Foreclosure defense gives Suffolk and Nassau County homeowners more time and bargaining power when seeking loan modifications and other mortgage help, with attorneys who don’t just defend against foreclosure in court but also explore negotiation, loan modification, and bankruptcy options.

The Role of Climate Migration in Foreclosure Patterns

Property values depreciate and the tax base shrinks as people migrate away from eroding coastal land, with systemic revenue declines affecting communities. This climate migration is creating new patterns in foreclosure proceedings, as some homeowners strategically default rather than continue investing in properties with diminishing long-term viability.

Frequently flooded locations could see resident flight as early as 2028 in Miami-Dade County, with similar patterns expected in other coastal areas like Broward starting in 2032. While these studies focus on Florida, similar patterns are emerging in Suffolk County’s most vulnerable coastal communities.

Proactive Strategies for Homeowners

Homeowners should stay in their house and not panic, as they better qualify for modification or assistance if they stay and it remains their primary residence, with staying and maintaining the house being the best option for those wanting to save their homes.

Key recommendations include:

• Early consultation with foreclosure defense attorneys who understand climate impacts
• Documentation of climate-related property damage and devaluation
• Exploration of loan modification options that account for climate risks
• Consideration of strategic bankruptcy filings when appropriate

Looking Ahead: The Future of Coastal Property Law

Climate-induced relocation and managed retreat are increasingly considered as part of the adaptation planning process in many coastal areas, although deciding whether, where, when and how to move is very complex and controversial.

As Suffolk County continues to grapple with these challenges, the intersection of climate science and foreclosure law will only become more complex. Homeowners facing these issues need legal counsel that understands both the traditional foreclosure process and the emerging realities of climate change impacts on property values and habitability.

The climate crisis is reshaping Suffolk County’s real estate landscape in ways that were unimaginable just a decade ago. For homeowners caught between rising seas and rising mortgage payments, expert legal guidance isn’t just helpful—it’s essential for navigating this new reality and protecting their most valuable asset.