Category Archives: Baltimore

Baltimore bankruptcy information, including debt settlement, credit counseling news and more.

April Bankruptcy Filings Down Nationally, Maryland Rates Remain High

According to Epiq Systems, Inc., total bankruptcy filings nationally last month decreased 13 percent over April 2013. The totals included both consumer and business filings. Epiq said that total bankruptcy filings totaled 87,954 in April 2014, down from the April 2013 total of 100,770 filings. Consumer, or individual filings, reportedly declined 12 percent to 84,579, from the April 2013 consumer filing total of 96,357. Business filings actually declined further, with a 24 percent decrease from the 4,413 business filings recorded in April 2013. Chapter 11 filings, which include financial reorganization, decreased 4 percent to 683 filings in April 2014, from the 711 filings registered in April 2013. However, not all numbers decreased. It should be noted that the nationwide per capita filing rate in April was 3.09 (filings per 1,000 people) across the country, an increase over the previous three months of 2014. The states with the highest per capita…
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March Foreclosure Rate Remained High In Maryland

According to the Baltimore Sun, foreclosure in Maryland remained high in March, as the state maintained the nation’s second highest rate. The Sun reported that one in every 527 housing units in the state was involved in a foreclosure filing in March, the “21st consecutive month of year-over-year gains.” Maryland has the second highest foreclosure rate in the country, trailing only Florida, according to RealtyTrac, a California real estate firm. The paper reported that the state’s foreclosure activity is running counter to the national trend, which has seen 42 consecutive months of year-over-year declines. Nationally, foreclosure filings have affected an average of 1,121 properties per housing unit. “That definitely stands out,” RealtyTrac Vice President Daren Blomquist told the Sun. “[Maryland] is one of a handful of states where the trend is in the opposite direction.” According to the Sun, there were 2,634 new foreclosures started in Maryland in March, up…
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Maryland Groups Pushing for Foreclosure Moratorium

According to the Baltimore Sun, civil rights groups from across Maryland are lobbying lawmakers in Annapolis to impose a six-month moratorium on home foreclosures because of the high number of cases in the state. The paper reported that banker organizations are against the effort, saying that there are already plenty of options for struggling homeowners, and that the housing market will not rebound until delinquent mortgages are cleared up. According to the group, RealtyTrac, Maryland had the third-highest foreclosure rate in the country in February 2014. Leaders with the state’s NAACP and CASA de Maryland have made the moratorium one of their top legislative priorities this year, according to the Sun. Potential legislation is scheduled to be heard by a House committee about foreclosures soon. “We’re finding that a lot of folks are ‘under water,’” said Bob Ross, an NAACP spokesman, according to the Sun. This refers to homeowners who…
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