Maryland Foreclosure Activity Down 4 Percent in November

Statewide filings up 84 percent from November 2008; rate ranks 9th nationally

 

Maryland foreclosure activity fell for the month of November to 6,370 properties with foreclosure filings, down 4 percent from the previous month, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The monthly total is still 84 percent ahead of the level reported in November 2008. With one in every 364 Maryland housing units receiving a foreclosure filing in November, the state reported the ninth highest foreclosure rate in the nation.

 

“Maryland saw a slight decline in foreclosure activity in November, though it remained at nearly double the amount reported for the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “At 7.3 percent, unemployment within the state remains below the national average, but the period of time residents are jobless has grown longer compared to previous years.”

 

Prince George’s County tops state in foreclosure rate and activity in November

Price George’s County posted the highest foreclosure rate in the state for November, with one in every 153 housing units receiving a foreclosure filing — 2.7 times the national average and 2.4 times the state average. Charles County had the second highest foreclosure rate in the state, with one in every 274 housing units receiving a foreclosure filing — 1.9 times the national average and 1.7 the state average. Frederick County came in third highest, with one in every 285 housing units receiving a foreclosure filing — 1.5 times the national average and 1.3 times the state average.

 

Prince George’s County led state in total foreclosure filings for November

Price George’s County also led the state in foreclosure activity, reporting 2,089 properties with foreclosure filings for the month. Montgomery County reported the second highest total, documenting 952 properties with foreclosure filings. Reporting 832 properties with foreclosure filings for the month, Baltimore City County had the third highest total in the state, while Baltimore County was fourth highest, reporting 697 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s foreclosure total in November

Maryland accounted for 2 percent of the 306,627 properties with foreclosure filings reported nationwide in November. Total U.S. activity declined nearly 8 percent from the previous month but was still 18 percent ahead of November 2008. One in every 417 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

Maryland Top Foreclosure Rates By County – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

n/a

n/a

Maryland

0

2,342

0

3,317

711

6,370

364

1.15

n/a

 

 

 

 

 

 

 

 

 

 

Prince George’s County

0

740

0

1,164

185

2,089

153

2.72

2.38

Charles

0

116

0

112

11

239

220

1.89

1.65

Frederick

0

115

0

154

33

302

285

1.46

1.28

Calvert

0

48

0

49

7

104

311

1.34

1.17

Baltimore City

0

144

0

597

91

832

354

1.18

1.03

 

 

Maryland Top Foreclosure Totals by County – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 09

% Chg Nov 08

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

-7.72

18.35

Maryland

0

2,342

0

3,317

711

6,370

364

-4.37

83.57

 

 

 

 

 

 

 

 

 

 

Prince George’s County

0

740

0

1,164

185

2,089

153

2.20

67.66

Montgomery

0

420

0

354

178

952

380

22.84

117.35

Baltimore City

0

144

0

597

91

832

354

-17.30

81.66

Baltimore

0

234

0

388

75

697

470

4.65

216.82

Frederick

0

115

0

154

33

302

285

24.28

77.65

 

 

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