Montgomery Homeowners Face Surge in Foreclosures

In Montgomery, there were more foreclosures in the first quarter of this year than in all of 2006.

"Sometimes there's a perception that a place like Montgomery County is immune to something like this," Leggett said in an interview after the news conference.

He said at times people can be "lulled into a false sense of security. . . . And unless we are proactive and give people the assistance they need, we will find more victims."

Leggett said he does not envision pushing for legislation to address the growing problem on a statewide level.

"The state has more resources than we do," he said, noting that it has oversight over the real estate and mortgage industries.

Leggett said the county might review its predatory lending laws "to see if there is more we can do."

Montgomery plans to hold a public forum, "Your Home, Your Money," from 7 to 9 p.m. tomorrow at the Rockville Library, 21 Maryland Ave., to discuss subprime mortgages, foreclosures, refinancing and settlement charges.

Anyone interested in attending should call 240-777-3764.