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Maryland Foreclosure Rate Declines in First Quarter

by Administrator 20. May 2011 01:52

The rate of foreclosure filings in Maryland declined morethan the national average in the first quarter, new figures indicate.

According to data released by RealtyTrac, Maryland’sforeclosure rate fell by 68 percent in the first quarter of 2011 compared withthe same period in 2010. The national average declined by 27 percent. Thereport also shows that the state’s foreclosure rate fell more than the rates inmost neighboring jurisdictions.

Pennsylvania and Virginia saw foreclosure filings drop by 29percent, while West Virginia and Delaware had increases. Washington, D.C.,experienced a larger decline in filings than Maryland, at 88 percent.

Maryland had a rate of one foreclosure filing per 490 houseslast quarter. The national rate was one foreclosure per 191 units.

If you are facing foreclosure, please contact the Marylandforeclosure defense lawyers of Chaifetz & Coyle, P.C., at 443-546-4608.

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