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 [...]
Foreclosures are at their lowest level since 2007. Though that is definitely a good thing, this may be an unrealistic view of the market because of the robo-signing scandal last year, which stopped foreclosure filings in their tracks. Maryland was not one of the states where the lawsuits took place, but that does not mean [...]
Fannie Mae is one of a few banks who have decided to put a moratorium on evicting those facing foreclosure from December 19, 2011-January 2, 2012. Executive Vice President, Terry Edwards, was quoted in a CNNMoney article stating that "No family should have to give up their home during this holiday season." Others also putting [...]
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 [...]
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 [...]