Foreclosures in Maryland increased 5.3 percent during the second quarter of 2010, according to new statistics released Friday. A report by RealtyTrac shows the state’s foreclosures numbered 15,637 over the past three months, giving Maryland the 11th-highest ranking for homeowner default in the nation. The rate was 67.8 percent higher than the second quarter in 2009. Overall, a total of 895,521 foreclosures were filed in the U.S. during the second quarter of 2010, RealtyTrac statistics show, down 3.9 percent over first quarter 2010 figures. One in every 144 U.S. households received a foreclosure filing during the second quarter.
Baltimore City foreclosures totaled 2,066 default notices during the second quarter, a 172 percent increase over the same period last year. The largest number of home defaults in the state occurred in Prince George’s County, where 4,331 filings took place from April through June, up 13.5 percent over the first-quarter default figures. The town of Bladensburg was listed as a foreclosure “hot spot” by RealtyTrac because there was a concentration of 35 home defaults recorded there. There were 1,583 foreclosure filings in Montgomery County in the last quarter, and 1,854 recorded in Baltimore County.
Overall, the RealtyTrac report said, Maryland lenders purchased 2,740 foreclosed properties during the second quarter – the highest quarterly rate since the first quarter of 2006. The foreclosure filing picture could look radically different in the third quarter: The flood of foreclosure filings in Maryland slowed to a trickle when the new mediation law went into effect July 1, The Daily Record reported Thursday.SOURCE: Maryland Daily Record
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