Tag: housing crisis

What Is This, 2008?! Foreclosures Are Up, Way Up, in Baltimore



In 2010, to stem the tide of foreclosures post-housing crisis, Maryland passed legislation requiring banks to seek “alternatives to eviction” before foreclosing on a borrower. And that legal dam held back foreclosures for a couple years. But now banks have broken through and properties “getting default, auction, and repossession notices” are on the rise — big time.

Foreclosures in Baltimore are up 182 percent from last July at the same time that they’ve dropped 32 percent nationwide. And Maryland’s foreclosure rate last month was second only to Florida. 

Investors Are Snatching Up Houses in Prince George’s County



Hit hard by foreclosures, Prince George’s County has become the site of the latest residential land rush in the Maryland-D.C. area. 2012 saw the median home value in the county up from the previous year, turning around a five-year downward trend, and cash sales have risen dramatically. And that means that more investors are snatching up houses to flip.