Maryland Foreclosures Dropped During First Quarter of 2009

Property foreclosures in Maryland declined to 9,289 events during the first quarter of 2009, representing reductions of 7.4 percent from the previous quarter and 18.5 percent from last year. The state’s foreclosure rate improved to 250 households per foreclosure, ranking Maryland the 16th highest in foreclosure concentration nationwide. Total foreclosure filings in Maryland posted the second lowest number since the first quarter of 2008 when the state’s foreclosure prevention law went into effect. See the full report