MARYLAND FORECLOSURE ACTIVITY UP 8 PERCENT IN APRIL

Foreclosure Activity Down 40 Percent From April 2008

 

IRVINE, Calif. – May 29, 2009 – Foreclosure filings were reported on 3,613 Maryland properties in April, an 8 percent increase from the previous month, but still 40 percent below the level reported for April 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1.5 million properties from over 2,200 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Foreclosure activity in Maryland rose in April, but was still significantly lower than one year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within the state continues to grow, though temporary moratoriums on foreclosures have kept several homeowners out of peril.”

 

Maryland ranked 19th in the country in total properties with foreclosure filings for April. One in every 642 Maryland housing units received a foreclosure filing during the month, the 17th highest state foreclosure rate in the nation.

 

Prince George’s County leads state in foreclosure activity in April

Prince George’s County led the state, reporting 1,170 properties with foreclosure filings for the month. Montgomery County reported 592 properties with foreclosure filings, the state’s second highest county total. Baltimore City County came in third highest, reporting 393 properties with foreclosure filings. Baltimore County came in fourth, documenting 258 properties with foreclosure filings, while the fifth highest total was in Frederick County, where 204 properties with foreclosure filings were reported for the month.

 

Prince George’s County post state’s top foreclosure rate in April

Prince George’s County topped the list, with one in every 273 housing units receiving a foreclosure filing — 2.4 times the state average and 1.4 times the national average. Charles County had the second highest foreclosure rate, with one in every 285 housing units receiving a foreclosure filing — 2.3 times the state average and 1.3 times the national average. Frederick County documented the third highest foreclosure rate, where one in every 422 housing units received a foreclosure filing during the month — 1.5 times the state average.

 

State a moderate contributor to nation’s foreclosure total in April

Maryland accounted for 1 percent of the 342,038 properties with foreclosure filings reported nationwide in April. The national total represented a negligible increase in activity from the previous month but was still 32 percent ahead of the total reported for April 2008. One in every 374 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. 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 filed against a property during the month — which is extremely rare — 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 Foreclosure Market Data by County – April 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 09

% Chg Apr 08

 

 

 

 

 

 

 

 

 

 

United States

65,456

76,608

100,559

35,512

63,903

342,038

374

0.25

32.25

Maryland

0

2,351

0

601

661

3,613

642

8.37

-39.89

 

 

 

 

 

 

 

 

 

 

Allegany

0

14

0

0

0

14

2,373

180.00

-62.16

Anne Arundel

0

131

0

9

42

182

1,114

21.33

-52.23

Baltimore

0

215

0

4

39

258

1,270

34.38

-47.77

Baltimore City

0

313

0

15

65

393

750

22.43

-29.95

Calvert

0

40

0

1

5

46

704

31.43

-17.86

Caroline

0

5

0

0

1

6

2,257

-57.14

-77.78

Carroll

0

9

0

0

17

26

2,364

-27.78

-64.38

Cecil

0

8

0

0

0

8

5,009

-33.33

-82.22

Charles

0

142

0

12

31

185

285

90.72

-4.15

Dorchester

0

17

0

0

8

25

660

316.67

212.50

Frederick

0

134

0

15

55

204

422

8.51

-21.84

Garrett

0

6

0

0

0

6

3,137

50.00

-60.00

Harford

0

90

0

1

24

115

833

82.54

-32.35

Howard

0

69

0

9

32

110

948

29.41

-37.85

Kent

0

10

0

0

0

10

1,059

42.86

-16.67

Montgomery

0

217

0

254

121

592

611

-17.32

-48.02

Prince George’s County

0

725

0

279

166

1,170

273

-6.02

-39.50

Queen Anne’s County

0

21

0

0

1

22

889

22.22

-56.86

Saint Mary’s

0

23

0

0

10

33

1,237

175.00

-68.27

Somerset

0

4

0

1

1

6

1,817

0.00

-50.00

Talbot

0

7

0

0

2

9

2,198

28.57

-60.87

Washington

0

92

0

1

20

113

536

39.51

56.94

Wicomico

0

26

0

0

2

28

1,443

75.00

-58.82

Worcester

0

33

0

0

19

52

1,045

188.89

-46.39

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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