Prince George’s County Could See 8,000+ Foreclosures In '08, Warn Officials

In Prince George's County, Maryland, Gazette.net reports:

• From the bench at the Prince George’s County Courthouse, Circuit Court Judge Herman C. Dawson has seen a daily line of people unable to pay for their homes. In 2005, there were about 3,700 foreclosure cases in court, he said. But in 2006, the number rose to 4,100. And in 2007, Dawson estimated more than 6,000 people went through foreclosure proceedings in the county – the highest in Maryland. And it’s expected to get worse, state officials said at a conference Jan. 3 with local leaders in Upper Marlboro, where they warned that more than 8,000 county homeowners might face foreclosure this year.

• "The tsunami is coming in July and August of 2008,” said Raymond Skinner, secretary for the Maryland Department of Housing and Community Development. "There are going to be situations where people will have to actually sell their house and move on.”

For more, see State fears ‘tsunami’ of failed mortgages (Warning that Prince George’s could see 8,000 foreclosures, Maryland officials urge assistance message).