FORECLOSURES Maryland : A complete Foreclosures Report for Montgomery and Frederick Counties
Are Loan Modifications the Answer to the Foreclosures Crisis?
One of the biggest challenges to ending the foreclosure crisis is this: A surprising number of homeowners who get their monthly payments reduced fall behind again within a year.
But nearly 40 percent of homeowners across the nation who had their monthly payments cut by 20 percent or more last year were delinquent again within a year, according to a report released this past week from the federal Office of the Comptroller of the Currency and the Office of Thrift Supervision.
I would say that when you remove the incentive of equity cushion in a house, the homeowner will not make the sacrifice to make a payment any longer. . thus creating the numbers of failing modifications above.
We are licensed in Maryland and Virginia
with the latest data taken for the MRIS for
all FORECLOSURES. . . including Bank Owned Properties,
REO'S and Auction Properties in Montgomery County and Frederick County
in Maryland
FORECLOSURES SOLD in MONTGOMERY COUNTY in 2009 Fernando Herboso In 2009 we received over 50 FORECLOSURES/ Bank Owned Property listings. . .that fact alone separates from 99% of all other Realtors. When purchasing foreclosures, opportunity is the key. . first hand information will give you that opportunity Subscribe to receive my FREE LIST of FORECLOSURES for MARYLAND and VIRGINIA HERE
FORECLOSURES SOLD in DECEMBER 2009 : 81
FORECLOSURES SOLD in NOVEMBER. 2009 : 142
FORECLOSURES SOLD in OCTOBER 2009 : 152
FORECLOSURES SOLD in SEPTEMBER 2009 : 113
FORECLOSURES SOLD in AUGUST 2009 : 139
FORECLOSURES SOLD in JULY 2009 : 126
FORECLOSURES SOLD in JUNE 2009 : 194
FORECLOSURES SOLD in MAY 2009 : 173
MOCO FORECLOSURES SOLD so far in 2009 : 1451
"For June 2009 over 30% of SOLD properties in the US
where DISTRESSED PROPERTIES"
FORECLOSURES SOLD in FREDERICK COUNTY in 2009
FORECLOSURES SOLD so far in DEC. 2009 : 31
FORECLOSURES SOLD in NOVEMBER: 55
FORECLOSURES SOLD in OCTOBER 2009 : 40
FORECLOSURES SOLD in SEPTEMBER 2009 : 45
FORECLOSURES SOLD in AUGUST 2009 : 51
FORECLOSURES SOLD in JULY 2009 : 60
FORECLOSURES SOLD in JUNE 2009 : 72
FORECLOSURES SOLD in MAY 2009 : 66
FRECO FORECLOSURES SOLD so far in 2009: 521
pssstt. . we have just completed a list of foreclosures for both these counties. ..want one?
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What a great report. Thank you for taking the time to share this.
Excellent report, Fernando! I think our ratio of distressed properties to normal resales and new construction numbers are far less than yours but, we have definitely seen a surge here in Charlotte too. I know there are even more to come as well. The lack of incentive to modify for some whose values have fallen so drastically have caused so many just to walk away. I don't agree with walking away but, many are certainly doing that.
Hope you have a wonderful weekend...
The good news about the report is that 60% of those that did get their loan modified are still making their payments and keeping their houses.
Nice post.... Thank you for sharing this post....