4-8-11: Foreclosure in Focus
The foreclosure picture across the nation keeps getting fuzzier. The U.S. House GOP is trying to cut programs for distressed homeowners. Federal agencies and a workgroup consisting of all 50 state attorneys general are pursuing separate settlements with major mortgage servicers to reform their foreclosure practices.
What does the picture look like in Maryland? We get the latest foreclosure numbers from Rick Sharga, senior vice president at RealtyTrac, a company that tracks U.S. foreclosure data. Then we check in on the future of Maryland foreclosures with Anne Balcer Norton, deputy commissioner for financial regulation with the Department of Labor, Licensing, and Regulation.
There’s a brand-new program in Maryland to extend “bridge loans” to about 1,000 unemployed borrowers who are behind in their mortgages. To learn more and to apply, call 877-462-7555 or go to MDHOPE.org.
More details in this short interview with Jacqueline Lampell, Director of Communications and Marketing at the Department of Housing and Community Development: Here’s Anne Balcer Norton talking about the program: Here’s producer Lawrence Lanahan’s full interview with Realty Trac’s Rick Sharga: And here’s our December 2010 interview with Anne Balcer Norton: