Assisting Homeowners In Prince George’s County
The Urban Institute's MetroTrends blog muses about how to best to spread around the cash Maryland is getting out of the $26 billion settlement five major banks made with the U.S. over the housing crisis. While D.C. is getting $40 million, Maryland's cut is $957 million, and most is supposed to assist homeowners who are behind on their mortgages.
Zach McDade notes that things in Prince George's County are pretty bad:
In 2011, nearly 15 percent of all residences in Prince George’s—33,439 residences—received a notice of intent to foreclose (NOI) from their mortgage servicer. Of those, the median borrower was 79 days behind and owed $6,400 in loan payments, penalties, and fees. In some Prince George’s zip codes, one out of every four residences received an NOI.
NeighborhoodInfoDC has expanded its work to include Prince George's County—a sign of how connected residents in the area are to D.C. The site includes an interactive map of the areas hardest hit by the housing crisis.
Photo via MetroTrends