Maryland Foreclosure Activity Rises in April

Statewide foreclosure filings up 3 percent from March

 

Monthly foreclosure activity in Maryland increased in April, up 3 percent from the previous month to 5,446 properties with foreclosure filings. This latest state total also represents a 51 percent year-over-year increase in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity inched up in Maryland in April to a level substantially above what was reported for this time one year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “At 7.7 percent, unemployment in Maryland is currently much lower than the national average, but the length of time people have remained unemployed continues to grow.”

 

The state had the 14th highest state foreclosure rate in the nation with one in 428 Maryland housing units receiving a foreclosure filing during the month.

 

Prince George’s County led the state in foreclosure rate for April

Prince George’s County posted the highest county foreclosure rate in Maryland for April, with one in every 234 housing units receiving a foreclosure filing — 1.8 times the state average. Charles County had the second highest foreclosure rate, with one in every 297 housing units receiving a foreclosure filing — 1.4 times the state average. Frederick County was third, with one in every 304 housing units receiving a foreclosure filing — 1.4 times the state average.

 

Prince George’s County also led the state in total foreclosures for April

Prince George’s County also led the way, reporting 1,373 properties with foreclosure filings for the month. Baltimore City had the second highest total, documenting 805 properties with foreclosure filings. Reporting 649 properties with foreclosure filings for the month, Montgomery County ranked third highest. Baltimore County was fourth, reporting 578 properties with foreclosure filings. A total of 396 properties with foreclosure filings were reported in Ann Arundel County, the fifth highest county total in April.

 

State a modest contributor to nation’s month foreclosure total

Maryland accounted for 2 percent of the 333,837 properties with foreclosure filings reported nationwide in April. Total U.S. activity declined more than 9 percent from the previous month and was 2 percent below the level reported in April 2009. One in every 387 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 – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

n/a

n/a

Maryland

0

2,403

0

2,078

965

5,446

428

0.90

n/a

 

 

 

 

 

 

 

 

 

 

Prince George’s

0

572

0

666

135

1,373

234

1.65

1.83

Charles

0

70

0

78

32

180

297

1.30

1.44

Frederick

0

143

0

80

64

287

304

1.27

1.41

Calvert

0

30

0

66

9

105

311

1.24

1.38

Baltimore City

0

346

0

353

106

805

366

1.06

1.17

 

 

Maryland Top Foreclosure Totals by County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 10

% Chg Apr 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

Maryland

0

2,403

0

2,078

965

5,446

428

2.89

50.73

 

 

 

 

 

 

 

 

 

 

Prince George’s

0

572

0

666

135

1,373

234

-3.38

17.35

Baltimore City

0

346

0

353

106

805

366

15.99

104.83

Montgomery

0

259

0

128

262

649

562

45.84

9.63

Baltimore

0

294

0

200

84

578

568

-9.55

124.03

Anne Arundel

0

184

0

121

91

396

516

5.60

117.58

 

 

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