Data Spell Out Depth of Foreclosure Crisis in Prince George's

The north end of the county has generally fared better, but more than 4% of homes received notices last quarter in some towns.

Data from the second quarter of 2012 spell out the depth of the housing crisis across much of Prince George's County, with more than 4 percent of homes in some zip codes receiving foreclosure notices between April and June of this year.

The figures, published by Maryland’s Department of Labor, Licensing and Regulation and compiled into an interactive map by NeighborhoodInfo DC, show particularly high rates in a band running through the center of the county.

Hardest-hit is zip code 20747 (Forestville), where 4.95 percent of homes received a notice of intent to foreclose from a bank in Q2. Close behind it are zip code 20716 (Bowie) at 4.34 percent and zip code 20785 (Landover) at 4.11 percent.

Measured by amount to cure—or the median amount that loans are behind when a notice is received—zip code 20613 (Brandywine) tops the list at $7,044. Mount Rainier is also deeply affected, with a median cure amount of $6,053.

Towns at the north end of the county tended to fare better. In Q2, just 1.10 percent of homes received a notice in zip code 20740 (College Park), along with 2.46 percent in 20737 (Riverdale Park/East Riverdale) and 1.42 percent in zip code 20782 (Hyattsville/University Park).

See below for a roundup of local figures, visit NeighborhoodInfo DC for an interactive map of the data, and check out the Urban Institute's MetroTrends Blog for more on foreclosures in Prince George's County.

Zip Code Total No. of Residences Pct. Receiving Notice Median Amt. to Cure Avg. Days Past Due 20740 (College Park) 6,541 1.10% $4,553 64 20737 (Riverdale Park/East Riverdale) 3,746 2.46% $4,584 54 20782 (Hyattsville/University Park) 5,923 1.42% $5,034 74 20781 (Hyattsville) 2,594 2.16% $5,179 85 20705 (Beltsville) 6,288 1.96% $4,982 56 20770 (Greenbelt) 4,474 2.19% $3,904 61
John Coctostin September 06, 2012 at 11:29 PM
Couldn't help but notice how the biggest minority areas have the highest default rates.
SF September 07, 2012 at 03:54 PM
It's not clear what point you are trying to make. But I couldn't help but notice that maybe your mind saw what it wanted to see. Bowie is certainly not one of the biggest minority areas (unless of course you are referring to their disproportionately large population of white people, which would be a minority in our county). It is true that people of color have been disproportionately hard hit by the housing crisis. People of color, in general, have lost a much greater share of their net worth than whites. Mostly because housing crashed, and housing was all we had. And because job losses have affected people of color more as well.
Phoenix Group -MD September 07, 2012 at 11:19 PM
As a housing expert I am very concerned about these numbers quoted from DLLR. In 2011, Forestville 20747 had a NOI rate of 25.7 to suggest today it would be only 4.95 is scary; Bowie 20716 was 21.8 and now 4.34; Landover was 21.4 and now 4.11. Did the Banks put everyone out? I would challenge you to do an editorial on how many modifications were done. Surely not enough!! This is a sad state of affairs PG-MD
Evict JackAss Obama September 09, 2012 at 04:32 AM
Why dwell on insignificant aberrations between zip codes when the bottom line is all of these stats belong to P.G. County, which is otherwise known as the arm pit of the Washington D.C. metro area. By the way, if Obama is evicted by the voters this November, there are going to be a lot more distress sales in PG County during the next year too and many more of those will occur in upscale neighborhoods, but the only problem is, the influx of new staffers into D.C. will never find PG County to offer a desirable lifestyle, so get ready for another deep spiral downward for real estate values in PG County, Maryland. p.s. You can run from the truth, but you can't change it.


More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »