Maryland is experiencing a housing crisis.
Some of the worst-hit communities are in the Chesapeake Bay and its environs, as well as on the Cheshire and Sussex Counties.
The state’s housing shortage, the foreclosure crisis, and the lack of affordable housing have put the spotlight on its communities.
But the most common reason given for not making repairs on property is that it is too expensive.
But it turns out the answer is not so simple.
The problem is a mix of factors.
The Chesapeake region has a high rate of foreclosures.
But its residents are also working-class, poor and have a long history of homeownership.
The housing crisis, which has impacted communities across the region, has also created a housing shortage.
In the Bay, for example, more than 60 percent of all homeowners have been forced out by the foreclosure epidemic, according to the National Association of Realtors.
In addition to its housing crisis , the Bay also has a shortage of affordable rental housing, with the median rent for a one-bedroom apartment in the city of Baltimore at $1,817.50, according an analysis of census data by RealtyTrac.
In comparison, the median for a two-bedroom rental unit in the region was $1.25 million.
In the case of the Chesham, the shortage of rental housing is more severe.
According to a study published in the Journal of Housing Policy, about 30 percent of households in the area have no rental units, while nearly 70 percent of the area’s households do not have any affordable housing.
“It is not an easy thing to get a mortgage in Baltimore County,” said Mike Zaremba, a senior vice president with RE/MAX, a real estate consulting firm.
“If you live in a place that has no affordable housing, it can be a real problem.
It’s not something you want to be a part of.”
But there are solutions.
Marylanders can help the foreclosure recovery by improving their financial situation, helping homeowners pay off their mortgages and making sure they can afford a home, said John M. Travolta, the president of RealtyMgmt.org, a nonprofit group that works to help homeowners refinance.
The Marylanders most at risk are the middle class, who often have lower incomes and have less equity in their homes.
But the most effective way to help is to pay down your mortgage.
This can be as simple as paying off your mortgage early and often, or paying a down payment that’s higher than the home’s value.
The best way to get the most from your mortgage, though, is to make sure that you and your mortgage servicer both pay down a mortgage, and then help your mortgage holder refinance, said Robert L. McBride, senior vice chancellor for credit counseling at the Federal Housing Administration.
The mortgage loan forgiveness program that was set up in 2009 was intended to help low- and moderate-income borrowers refinance their mortgages.
But some borrowers have not taken advantage of the program, which was supposed to make it easier for them to refinance loans and save them money in the process.
“The problem has been that people are reluctant to refinances, and they are reluctant because they don’t know what they are getting,” said McBride.
“I think the best way for a lot of people to get that money back is to refit their mortgages.”
The government’s Department of Housing and Urban Development has offered a number of loan forgiveness programs in recent years.
One program allows people to refloat their mortgages in exchange for a payment of $500 or less.
Another allows people who owe a small amount of their income to reflow their mortgages, but not their monthly payments.
The third is a program that lets people refinance a mortgage if they can show they can pay down their mortgages at a low interest rate.
While it’s important for homeowners to pay their mortgage off early, the real key is to take advantage of some of the options available to them.
“You can refinance if you can’t afford it or if you’re under pressure to refinish,” said Zaremberg.
“There are a lot more options available, and you can refloose your mortgage or you can pay off your loan at a lower interest rate than your loan would be at the current rate.
If you’re not ready to pay off the mortgage early, it’s a great option to take.”
It could be a discount, and it could be something that makes it more affordable to you. “
It’s not necessarily that you should have to refill your mortgage at a higher rate than it’s currently going to go up.
The important thing is, you should take advantage if you are able to reflate your mortgage and you’re ready to make the payment