Maryland Foreclosure Nightmare

I just read an interesting article inthe Baltimore Sun about the magnitude of foreclosures in MD. Here are a couple of quick facts:

• 163,479 Foreclosures Projected 2009-2012
• Foreclosure starts up 470% from 2006
• Lost Home Equity Wealth $1.9 Trillion
• 134,923 Families behind on Mortgage as of the end of June

These estimates come from the Center for Responsible Lending in a September 2009 report. Now also think about this, these numbers do not take into consideration an increase in Unemployment or the number of Strategic Defaults that are becoming more common.

As taxpayers it is our duty to do what we can to stop these foreclosures, at the end of the day, WE WILL BE THE ONES PAYING FOR IT! If you know someone who may be at the end of their rope, through them a lifeline and have them contact me, a Short Sale may be an option.