wjz-13 all-news-99-1-wnew 1057-the-fan 1300logo2_67x35
BREAKING NEWS: Full Ravens 2014 Schedule Released | Read Story

Local

Md. Leads Nation In New Foreclosure Filings

View Comments
foreclosure

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

BALTIMORE (AP) — The rate of new foreclosure filings in Maryland topped that of any other state this spring.

The Baltimore Sun reports that the spike can be attributed in large part to a national settlement with the country’s five largest mortgage servicers that led to a flood of new cases.

The settlement dealt with “robo-signing,” with governments alleging that mortgage servicers had carelessly and illegally prepared foreclosure paperwork. Banks eased up on foreclosures while the case was pending, creating a logjam — especially in states like Maryland where foreclosure is a judicial matter.

The Washington-based Mortgage Bankers Association reported Thursday that almost 20 in every 1,000 home loans in Maryland went into foreclosure during April, May and June. That’s twice the national average.
——
(Copyright 2012 by The Associated Press. All Rights Reserved.)

View Comments
blog comments powered by Disqus