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Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 03/01/12
Montgomery County, Maryland Foreclosures & Short Sales Update Rev. 03/01/12  
The Montgomery County Distressed Market  
Please note: As I will be attending the RE/MAX convention next week learning how I can better assist you, next week’s report will be distributed on Friday March 9th.
 
MARYLAND HOMEOWNERS- The Governor is looking to reduce our Mortgage Interest Deduction that we all hold vital. Take five minutes out of your day to read about this very important issue, PLEASE! More tax burdens on real estate and homeowners will only further hurt Maryland's economic recovery. Please visit http://www.savemdmid.com/. To find out who you’re representatives are, please visit www.mdelect.net.
 
FHA has announced rate increases that will affect buyers significantly. Effective April 1, 2012, the up-front MIP will increase from 1% to 1.75% and there will be additional .10 to .25% increases in the annual rates as well depending upon loan amounts. Now is the time to buy if using FHA.
 
The overall inventory and the number of short sales available in Montgomery County continue to decrease.  Motivated sellers have a great opportunity to take advantage of today’s market before any potential influx of new foreclosures become available.  If you or ... more

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