Friday, May 23, 2008

Prince George’s leads Maryland in foreclosures

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The filing rate for home mortgage foreclosures in Maryland jumped 42 percent last month from March, and soared 479 percent from April 2007.

All told, 6,052 foreclosure filings were reported in April by RealtyTrac of Irvine, Calif., which monitors such filings nationwide. The previous April, 1,045 homes were in foreclosure.

Prince George’s County had the state’s highest foreclosure rate, with one filing per 164 households. Montgomery was third, with one per 314 households, and Frederick was fourth, with one per 326. All three counties showed significant increases from both March and April 2007.

Nationwide, one in every 516 homes was in foreclosure in April.