Baltimore foreclosure rates were up in March 2012 versus the same period last year, according to an article by Inman News.
The foreclosure rate for the Baltimore-Towson area was at 3.8%, 8th highest in the select markets used in the article. This is an increase of .60% from March 2012.
There were 1,262 completed foreclosures in the last 12 months.
Also, according to the article, over 7% of homes in Maryland are 90 or more days delinquent on mortgage payments.
These numbers say to me, that in the Baltimore real estate market, we most likely will see more Baltimore short sales or Baltimore foreclosures coming through in the next year. This is not unexpected, as we saw a 41% increase in Baltimore foreclosure filings in February. Read “Baltimore Foreclosure Rates Expected to Rise.”
If you may be facing foreclosure in Baltimore, please contact me. You may have other options!