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 [...]
The S&P (Standard & Poor)'s rating service states that it will take four years to clear "shadow inventory" from the real estate market, according to their recently released report from the end of 2010. "Shadow Inventory" is the number of houses where the homeowners are more than 90 days delinquent on their mortgage payments. The [...]
Fannie Mae and Freddie Mac are freezing foreclosure proceedings on homes from December 20, 2010-January 3, 2011 in an attempt to join in the holiday spirit for those who will lose their homes. What they will prevent is people being evicted from their homes during this time period, hopefully allowing families to spend one last [...]
After a number of lawsuits have been filed, Ally Financial (formerly GMAC), one of the US's largest banks, is halting foreclosures in 23 states. Maryland is NOT one of the states. JP Morgan Chase has also been wracked with issues,with an employee coming forward, stating that she signed off on thousands of foreclosures without verifying [...]
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 [...]
Foreclosures in Maryland rose above the national average in February, with a total of 5,732 according to the Baltimore Business Journal. This was a 9% increase over January, and an 80% increase (yes eighty percent) over February 2009. In Maryland, one in every 407 houses was in foreclosure in February. The national average was one [...]