Maryland foreclosures were up in June 2010 as well as the whole first half of the year.
There were 6,304 foreclosures filed in Maryland last month. This is up 104% from last year in the same month. This is an interesting statistic, considering that across the US, foreclosure filings were down 7%.
The entire first half of the year also saw a large rise in Maryland foreclosure filings, up 56.2% from last year to 28,293.
The Baltimore Business Journal reported:
“The roller coaster pattern of foreclosure activity over the past 12 months demonstrates that while the foreclosure problem is being managed on the surface, a massive number of distressed properties and underwater loans continues to sit just below the surface, threatening the fragile stability of the housing market,” RealtyTrac CEO James J. Saccacio said in a statement.
I am hoping to see the foreclosure numbers drop as more people look to do a short sale in Maryland.
Contact me for more information on how to avoid foreclosure in Baltimore.