Rising unemployment placed more pressure on borrowers and slowed the improvement Maryland had been experiencing in homeowners behind on their mortgages, according to a report from the Mortgage Bankers Association released on August 22, 2011. The Baltimore Sun reported that the number of borrowers at least one month behind on their mortgages fell 4 percent in the quarter between April and June, while the rate of improvement had been close to 10 percent for the previous two periods.
The Sun also said that seriously delinquent borrowers who were 90 days or more behind on their mortgages—including those in foreclosure proceedings—continued to shrink, although new delinquencies with borrowers one month behind worsened over the year.
Roughly 140,000 Marylanders were behind on their mortgages during the spring, according to mortgage companies surveyed, including loans that were attempted to being foreclosed on but hadn’t yet been repossessed.
If you have fallen behind on your mortgage and need a Maryland foreclosure attorney to work with you and help reorganize your debt or file for bankruptcy so you can try to stay in your home, contact our office for a free consultation.
The Law Firm of Kevin D. Judd – Washington DC bankruptcy lawyer