Answer
$(y-5)(y+9)$
Work Step by Step
Using $a^2-b^2=(a+b)(a-b)$ or the factoring of the difference of two squares, then,
\begin{array}{l}
(y+2)^2-49
\\=
[(y+2)-7][(y+2)+7]
\\=
(y-5)(y+9)
.\end{array}
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