Tougher times for housing investors
Foreclosure filings rise in city neighborhoods as real estate market sags
Tougher times for housing investors -- baltimoresun.com
By Jamie Smith Hopkins | Sun Reporter
July 29, 2007
Real estate investors, leaping to buy Baltimore homes during the boom, helped fuel the frenzy and drive up prices in neighborhoods from Canton to Reservoir Hill.
Now they're part of the fallout.
Properties belonging to "nonowner occupiers" - usually investors - accounted for nearly 30 percent of the city homes that lenders were trying to foreclose on during the first three months of the year, according to a Sun analysis of state court and assessment data. Caught by the market slowdown and in some cases blindsided by other problems, they defaulted on loans for more than 250 homes.
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Seagirl, read this
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