Brooklyn is one of the five main districts of New York City with a population of almost 2.5 million people with an annual median home income of $32,135. The Brooklyn foreclosures provide property investors and agents, and home buyers a very big opportunity and attraction to invest in cheap homes in the well planned, wealthy Brooklyn townships. It is the minority residents who are facing foreclosures because of their inability to pay up mortgage loans. Much as this contributes to the rising trends of Brooklyn Foreclosures, there has been a considerable fall. Foreclosures in the first quarter, 2008 were 140 and 83 in the last quarter of 2008 falling further to 37 in the first quarter of 2009.