Brian Honea, DS News
A surge in foreclosure activity for Maryland in October pushed the state into the top spot among states with the highest foreclosure rate in the nation, according to RealtyTrac‘s October 2014 U.S. Foreclosure Market Report released Thursday.
Maryland overtook Florida, which had held the number one position for 12 consecutive months, according to RealtyTrac. Before October, the last time Florida did not have the nation’s highest foreclosure rate for a month was in September 2013, when Nevada held the top spot.
Foreclosure filings, which include default notices, scheduled auctions, and bank repossessions (REOs), totaled 5,943 for Maryland in October (one in every 400 residential housing units), an increase of 68 percent from September and 30 percent from October 2013. It was the highest number of foreclosure filings for the Old Line State for a single month since July 2010, a total of 51 months.