Category Archives: Posts by Location

Facing bankruptcy or debt consolidation issues? Read posts by location from a bankruptcy lawyer in Maryland and Washington DC.

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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Maryland’s First Mariner Bancorp Files For Chapter 11 Bankruptcy

According to the Wall Street Journal, First Mariner Bancorp, a holding company for Maryland community bank 1st Mariner, filed for Chapter 11 bankruptcy last week and plans on selling itself. The bankruptcy was filed on February 10 in Baltimore. Court paperwork indicated that First Mariner Bancorp has less than $5.5 million in assets and more than $60.5 million in debts. The company said in a statement that it plans on recapitalizing 1st Mariner Bank with $100 million in cash. The bank itself will not file for bankruptcy and will operate separately from the holding company. No interruptions in services are expected for customers. 1st Mariner Bank operates 16 bank branches in central Maryland, according to the Associated Press. Where Can I Find a Maryland Bankruptcy Lawyer? As we mentioned last week, although it is used primarily for corporations and businesses, Chapter 11 bankruptcy protection is available to individuals with certain…
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