The increase in foreclosure activity – up 98 percent year-over-year to almost 4,400 filings – ran counter to the national trend, which saw foreclosure activity fall 18 percent from January 2013, according to data from real estate information firm RealtyTrac.The firm tracks default notices, scheduled auctions and bank repossessions.
Maryland, which has seen year-over-year gains in foreclosure activity for 19 months in a row, ranked behind Florida and Nevada in the report.
Experts said the gains reflected banks starting to move more aggressively through a backlog of loans. Maryland’s judicial process, in combination with lawsuits against lenders, slowed foreclosure proceedings, they said.
“We’re not seeing a new wave of people who are unable to afford it suddenly. This is a backlog issue,” said Jonathan Benya, an Annapolis-based real estate agent for Keller Williams Realty.
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Publishers Notes: How LOUD do I have to YELL? Maybe NOW you'll get it.
Actually it's not how loud you yell.It's how loud you yell an actual workable solution.
ReplyDelete12:52, Oh, I see. Now you want ME to fix the problem.
ReplyDeleteYou made the mess, YOU fix it.
Say goodbye to Pollitt, Conway, Mathias, Ireton and the rest of the Liberal scumbags out there who knew this was coming.
This WASN'T a perfect storm. This storm was predicted YEARS ago but Liberals never did a thing about it.
How's that Rain Tax working for you now citizens of Salisbury?
The liberals have swung the pendulum so far to the left in this State that many citizens are just abandoning their properties. You can't blame them - as the libs actually believe that they can tax their way into prosperity.
ReplyDeleteO'Malley thought that they were going to punish the millionaires by raising taxing threshold - and what happened. The State got less revenue because they moved out. It's now gotten so bad that they not only tax your toilets (doubled the flush tax) but now your rainwater to.
I know its bad, houses are abandoned everywhere. Just riding up the road, on the left and on the right, houses up and down the street are just abandoned.
ReplyDeleteBeezer, i think you're right. I used to walk around the bury, and there's abandoned houses all over the place
ReplyDeletesolution, people must not like single-family homes, so the bury will build more apartments
ReplyDeleteOk 12:52 let's hear your 'workable solution." So far as I can tell the apparent only workable solution according to government is either higher taxes or subsidies which penalizes the doers and benefits the takers. Lose lending practices and home buyers purchasing more house than they could afford is what got us is into this mess. Now, you want the responsible people who lived within their means to fix everything that's broken. Way back in 2008 the banks should have never been bailed out to the degree they were. Now 17 TRILLION later, our government is doing exactly what the homebuyers did pre 2008 which is to borrow more than it can afford. This is all gonna end in higher taxes, inflation, and a sub-par economy...and you expect me to have a workable solution for all of that?
ReplyDelete12:52, what are your workable solutions.
there is a Campaign Narrative for O'Malley to raise all kinds of public matching funds he will never spend next year --scamming all of America
ReplyDeleteResponse to 1:14 Posting
ReplyDeleteIt is starting to remind me of just outside the Inner Harbor in Baltimore where there are row after row of abandoned row houses. After Bethlehem steel shutdown, and other key industries folded, look what happened there. And believe me, Baltimore will be filing bankruptcy very soon.
I do not understand why everyone seems so surprised by the announcement. All one has to do is ride down Salisbury Blvd. and the industrial park and see scores of warehouse monuments. There is simply not enough jobs to sustain our general population. All I see are EBT cards being used everywhere.
ReplyDeleteChange you can believe in.
ReplyDeleteI wish Realty Trac would send someone down here to Salisbury. I'll bet you that one would be startled by the shear number of foreclosures compared to other parts of Maryland.
ReplyDeleteJust glance at the Daily Times foreclosure Notices at their next publishing. And once they go to press - the foreclosure process has begun.
ReplyDeleteThe fed should declare anyone over 55 can start collecting social security, we've worked all our lives compared to the free loaders in this world getting welfare, EBT, phones. Give me social security, I gladly give someone my job. Invest in the people who have worked for it, put those who want something for nothing to work!
ReplyDeleteOur country has ended up looking just like Greece. It's just not profitable to work anymore. Why would anyone want to get-up, dress, go to work, when all they have to really do is go to the end of their driveway once a day.
ReplyDeleteI swear, our nation is in one hell of a predicament.
I am 33. Have worked since I was 14. Bought a house 3 years ago. Just refinanced not to a lower payment, but to a shorter term so I could own it faster. I don't k ow why I even bother anymore. Social security that I pay every month won't even be there when I am old enough to collect it. I wish the govt would just cut me a check for what I have paid so far. I would have no debt and could plan for my retirement on my own
ReplyDelete"We have several astute people scratching their heads wondering how this happened" says Wayne Strausburg with the County Executives Office.
ReplyDeleteErnie Coleburn says the study we provided isn't accurate and Jake Day agreed.
People on WELFARE are making more money than the majority of citizens in all of Wicomico County, yet Liberals want to say Obama isn't trying to make it easy for Americans not to work.
You just keep buying this BS from these Liberal Officials.
YOU just keep paying those TAXES and FEES. I'll tell you what people. Why don't just the REPUBLICANS pack their things and leave these assholes what's LEFT of the state of Maryland.
They can enjoy their tax & fee increases and gay lifestyles and the straight can move to Delaware.
Now Joe you are not supposed to focus on these "negatives" and only stress the "positives." That's going to make Salisbury and MD all better!
ReplyDeleteIgnoring and pretending bad things don't exist always makes them go away!
Obama is redistributing tax funds to the Worthless...this is being carried out by those we had elected to public office...
ReplyDeleteI believe that part of the problem is, that the banks did not take ownership of the houses right away. They pushed back the bad debt to look profitable, and now they are assuming the debt.
ReplyDeleteBut the other side of the coin is the number of empty properties.
If I had a better paying job I would easily jump on homeownership.
May be a dream that I need to fulfill elsewhere because if I stay here it will never come true.
Responding to 4:18 Posting:
ReplyDeletethat says; "Banks are assuming the debt"
Hark, the Banks are not assuming anything. Remember the Fannie Mae, Freddy Mac bailout. Well part of the bailout allowed the Banks to not, I repeat, to not have to take a 'haircut' from what was owed. In other words, any deficiency that resulted from a defaulted loan would be absorbed by the treasury. So the Banks have not lost a dime through this crisis.
But, what I will tell you is that the Banks are having to pay the Real Estate taxes and that is starting to put them in a pickle. Some of these houses have now been sitting for almost 5 years. So now, they are starting to unload them.
All I ever hear from the local real estate agents that everything is doing great and houses are increasing in value. Baloney!!!!!!!
ReplyDeleteI do not have any sympathy for those people who purchased homes they knew going in that they could not afford.
ReplyDelete1:21-My point exactly.There are no workable solutions at this point because people did not buy within their means.Even a refi did very little to remedy the situation.Many people will have to lose their homes before this will turn around.In a sense time itself is the only solution.
ReplyDelete