Friday, April 24, 2009

A New Wave Of Foreclosures?

That's what the Sun says in this story about foreclosures involving Dale Thompson Builders.

Auction signs sprout from manicured front yards of a row of new brick and stone townhouses in Columbia, signaling yet more foreclosures amid the collapse of the luxury housing market. But in what some experts see as the latest wave of foreclosures to hit the Baltimore area, the homes' builder, rather than homebuyers, went into default.

Two separate lenders have foreclosed on 35 of Dale Thompson Builders' unsold homes, building lots and unfinished houses in Columbia's Scot's Glen townhouse development. One lender also foreclosed on seven lots in a neighborhood of $1 million homes in western Howard County, according to public records detailing property auctions. Two auctions are scheduled for Friday.

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