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Saturday, February 07, 2015

Maryland ranks high for zombie foreclosures

There are nearly 3,400 residential properties in Maryland in some stage of foreclosure that have been abandoned by their owners. That's 31 percent of all foreclosures in the state, higher than the average of 25 percent nationally.

Known as zombie foreclosures, these properties are sitting empty, with some falling into a state of disrepair, making them an unwelcome presence in the neighborhoods where they sit abandoned.

In Baltimore City, the zombie foreclosure rate is 33 percent, ranking Baltimore among the top 10 cities for abandoned foreclosure properties.

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