FORECLOSURES  Maryland : A complete Foreclosures Report for Montgomery and Frederick Counties

Are Loan Modifications the Answer to the Foreclosures Crisis?  

One of the biggest challenges to ending the foreclosure crisis is this: A surprising number of homeowners who get their monthly payments reduced fall behind again within a year.
But nearly 40 percent of homeowners across the nation who had their monthly payments cut by 20 percent or more last year were delinquent again within a year, according to a report released this past week from the federal Office of the Comptroller of the Currency and the Office of Thrift Supervision.
I would say that when you remove the incentive of equity cushion in a house, the homeowner will not make the sacrifice to make a payment any longer. . thus creating the numbers of failing modifications above.

We are licensed in Maryland and Virginia

FORECLOSURES SOLD in MONTGOMERY COUNTY in 2009
     
     FORECLOSURES SOLD in DECEMBER 2009 :  81      
    FORECLOSURES SOLD in NOVEMBER. 2009 :  142          
       FORECLOSURES SOLD  in OCTOBER 2009 : 152   
   FORECLOSURES SOLD in SEPTEMBER  2009 :  113
           FORECLOSURES SOLD in AUGUST 2009 : 139
                 FORECLOSURES SOLD in JULY 2009 : 126
                 FORECLOSURES SOLD in JUNE 2009 : 194
                  FORECLOSURES SOLD in MAY 2009 : 173
   MOCO FORECLOSURES SOLD so far in 2009 : 1451

"For June 2009 over 30% of SOLD properties in the US 
where DISTRESSED PROPERTIES"


FORECLOSURES SOLD in FREDERICK  COUNTY in 2009
      FORECLOSURES SOLD so far in DEC. 2009 :  31
                FORECLOSURES SOLD in NOVEMBER:  55      
          FORECLOSURES SOLD in OCTOBER 2009 : 40      
    FORECLOSURES SOLD in SEPTEMBER  2009 :  45
           FORECLOSURES SOLD in AUGUST 2009 : 51
                  FORECLOSURES SOLD in JULY 2009 : 60
                 FORECLOSURES SOLD in JUNE 2009 : 72
                  FORECLOSURES SOLD in MAY 2009 : 66
   FRECO  FORECLOSURES SOLD so far in 2009: 521

pssstt. . we have just completed a list of foreclosures for both these counties. ..want one? 

Fernando Herboso

In 2009 we received over 50 FORECLOSURES/ Bank Owned Property  listings. . .that fact alone separates from  99% of all other Realtors.

When purchasing foreclosures, opportunity is the key. . first hand information will give you that opportunity

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