INCREASING FORECLOSURE ACTIVITY- Compared to the fourth quarter of 2021, foreclosure events grew in twenty-two Maryland jurisdictions and declined in two jurisdictions
DEFAULT NOTICES – Default notices increased by 154 percent to 831 filings in the first quarter.
NOTICES OF FORECLOSURE SALES – Foreclosure sales notices decreased 16.2 percent from the prior quarter to 496 filings. Compared to the first quarter of 2021, however, foreclosure sales increased 53.6 percent.
LENDER PURCHASES OF FORECLOSED PROPERTY – Lender purchases increased 8 percent since the fourth quarter to 406. Compared with the same period last year, purchases increased by 124.3 percent.
The State of Maryland is offering free help for homeowners affected by COVID-19 through the Homeowner Assistance Fund. Financial assistance is available for past due mortgage payments, property taxes, home insurance, HOA fees and more.