Foreclosures in Maryland were down 52.4% in October 2010 from the same time last year. This is a welcome statistic in the Baltimore real estate market! According to the Baltimore Business Journal article, One in every 736 homes in Maryland faced a foreclosure filing in October, down from one out of every 348 homes this [...]
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 [...]
The US Housing and Development has awarded Maryland $6.8 Million to help stop foreclosures as part of the Neighborhood Stabilization Program. Areas receiving awards are allowed to use the money to buy land and property to either rehabilitate or knock down houses, and also to offer downpayment and closing cost assistance programs to low-to-moderate income [...]
This Month in Real Estate September 2010 is here early! September's video discusses foreclosures, and how California, Florida, and Arizona topped the list in most foreclosures per state. Maryland foreclosures too are at an all time high, as I discussed in both July & August, up 56.2% in the first half of 2010, and 10th [...]
FHA is offering refinances for qualifying underwater borrowers, according to a mortgagee letter sent out by HUD last week. Mortgagee Letter 2010 -23 came as a result of the changes announced by HUD in March 2010 in the MHA (Making Housing Affordable) FHA program. The letter states that the focus of the program is: These [...]
Maryland foreclosures were up in July 2010, an increase even over June, which was up 104%. There were 6,961 foreclosure filings in July, up from 6,304 in June. The first half of 2010, Maryland foreclosures were up 56.2% over this same time last year. Maryland increased 10.4% over June, while nationwide, foreclosure filings were up [...]
Fannie Mae has a Deed-for-Lease option available for those who cannot make their mortgage payments on their homes anymore. This is an option for people who want to stay in their homes but cannot afford to keep them. For many Baltimore homeowners, this may be a viable option. What happens in this case is that [...]
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 [...]
A recent study by RealtyTrac finds that most foreclosures are not underwater. Less than 50% of foreclosed properties are underwater, which is an interesting statistic in this real estate market with many short sales and homes' values being less than the price people paid for them. A major component that RealtyTrac found to be behind [...]
Part of the Clipper Mill development by Stuever Bros is due to go to auction after being foreclosed on by BB&T bank. Most of the development is not effected by this foreclosure, but according to Alex Cooper, the auctioneer,'s site,: "The Property is believed to be improved by nine (9) spec homes in various states of completion, [...]