For years now Prince Georges County, MD has been known for having the highest foreclosure rate in the state and one of the highest in the country. It’s a surprising turn to see that while rates have been falling across the state for the last two years it is actually Charles County, Maryland that now has the most foreclosures per house households of any county in the state.
One out of every 302 homes in Charles County are currently in foreclosure while in Prince George’s County, that number is only one out of every 385.
How did Charles County get so many Foreclosures?
While Prince George’s County has spent millions of dollars encouraging economic growth and enticing buyers to purchase homes through a multitude of down payment assistance programs, those sort of incentives have been few and far between. In addition, fewer people are even attempting to do a short sale due to the expiration of laws such as the Mortgage Debt Relief act of 2007 and the difficulty of completing a short sale due to Maryland’s stringent foreclosure protection laws.
How Do I Avoid Foreclosure With A Short Sale?
Doing a short sale is still possible! If you’re trying to avoid foreclosure in Maryland, the most important thing you can do is get the process started by contacting our Maryland Short Sale Specialist Team or calling 301-653-8113. They can get you in touch with an attorney, free of charge, who can help you stop the bank from taking your home.
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