Baltimore foreclosures were up in the third quarter of 2010, up 94% from the second quarter.
RealtyTrac, a site that reports on foreclosure filings and trends across the US, says that 5,753 Baltimore area homes received a foreclosure filing, which is up 460% (yes, that is four hundred sixty PERCENT) over the same time last year, according to an article in the Baltimore Business Journal.
Essentially, one out of every 193 homes in the Baltimore area received a foreclosure notice in the third quarter of 2010.
If you received a foreclosure notice, you may have options. Many Baltimore homeowners underwater are looking towards doing a short sale. Baltimore short sales are becoming more common. Another may be to do a loan modification. A third, if you qualify and have a Fannie Mae loan could be a Deed-for-Lease.
Contact me for more information on how to avoid foreclosure in Baltimore. You may have other alternatives!