The rate of new foreclosure filings in Maryland far exceeded any other state's this spring, a spike caused in large part by the national robo-signing legal settlement that unleashed a flood of new cases.
Almost 20 in every 1,000 home loans in Maryland — twice the national average — were drawn into the foreclosure process during April, May and June, according to survey data released Thursday by the Washington-based Mortgage Bankers Association.
"If you look at what's going on in foreclosure starts, Maryland now has exceeded Florida, has exceeded Georgia — some of the states that have been up there at the top in terms of the percent of loans on which foreclosure actions have started," said Jay Brinkmann, the trade group's chief economist.
2 comments:
But you ask any local realtor here in Smallsbury and they will tell you the housing market is turning around and looking great....blah blah blah. All the while my house has dropped over $100.000.00 from what I paid for it (which was overpriced so my fault) however, back then the real estate agents were saying to me that it would probably double in value in five to eight years....sure! More like double the lose!
8:46-That is absolutely correct.If you read the listings in the free real eatate flyer the prices are out of sight for our area.Unless I'm missing something or the sellers are willing to drastically reduce their asking prices,nobody will be willing to buy or able to buy a house.I don't blame all of it on the realtors either.The sellers obviously think they are sitting on a gold mine.
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