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Foreclosures in Maryland Up Dramatically

Published August 30th, 2007 in Borrowers. Tags: , , , , .

Next to the nation’s capital in Maryland, we find a state suffering from a foreclosure growth rate of 345%.  The state went from 40th to 16th in the nation in ranking the states with the most foreclosures.  Ouch.

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« Google, Yahoo Will Face Subprime Consequences
Germany’s IKB Will Post Around $1 Billion Loss on Subprime »
This blog discusses subprime mortgage problems. Subprime problems began when lenders offered loans to potential home owners with bad credit or credit / income that did not meet the standards of traditional lending. Subprime mortgages for people with bad credit or no credit face an uncertain future. Once the hope of many to enter into home ownership has now been corrupted both by overreaching consumers and predatory lenders. I hope to follow the aftermath of this crisis.

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