Foreclosures in Maryland fell by 23 percent in January from December but were 41 percent higher than a year ago, according to the latest survey by Irvine, Calif.-based RealtyTrac, a foreclosure research company.
Nationally, foreclosures fell 10 percent in January from December but were 15 percent higher than a year ago, RealtyTrac reported.
Foreclosures in neighboring Washington, D.C., rose by 12 percent from December, but were 7 percent lower than one year ago. Similarly, Virginia foreclosures rose 14 percent in January compared with the month before, but were 2 percent lower than in January 2009.
Maryland continues to have a highest mortgage default rate of the three jurisdictions with 5,229 homes in foreclosure, or one in every 446 households. The greater majority of these foreclosures came from Baltimore City and Howard County.
D.C. has the fewest number of foreclosures among the three jurisdictions with just 192, or one in every 1,486 households. Virginia has surpassed Maryland for the total number of foreclosures with 5,236, or one in every 631 households.
Nationwide, there were 315,716 foreclosures in January, one in every 409 households.
Nick Gioia | www.NGRealtyGroup.com