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Maryland No. 2 in first quarter foreclosure rate
By respres (http://www.flickr.com/photos/respres/2539334956/) [CC-BY-2.0 (http://creativecommons.org/licenses/by/2.0)]

Maryland No. 2 in first quarter foreclosure rate

Maryland experienced the second highest foreclosure rate in the nation for the first quarter of the year.

Foreclosure activity increased in the state for the seventh consecutive quarter and one in every 189 housing units had a foreclosure filing for the quarter, according to RealtyTrac, a real estate information firm.

In total there were 12,589 filings for the quarter. That figure represents a 1 percent decrease from the previous quarter, but a 34 percent jump from the same time last year.

Maryland’s foreclosure rate has been on the rise, primarily because of a backlog created by measures taken by the General Assembly to prevent or slow foreclosures at the height of the recession five years ago.

First quarter top foreclosure rates:

  1. Florida: one in 129
  2. Maryland: one in 189
  3. Nevada: one in 224
  4. Illinois: one in 230
  5. New Jersey: one in 273

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