Foreclosures in Maryland rose in February, pushing its rate of default ahead of the national level.
Nationally, there were 308,524 foreclosures in February, equaling one in every 418 households. Nationwide foreclosures fell 2 percent from January but were 6 percent higher from one year ago.
Across the country 6 states accounted for 60 percent of the national total: California, Florida, Michigan, Illinois, Arizona, and Texas. Nevada had the worst rate of default in February with one of every 102 households in foreclosure.
Maryland foreclosures rose to 5,732 in February, an increase of 9 percent from January 2010 and an 80 percent increase from February 2009. In February 2010, one of every 407 households in Maryland was in foreclosure, the tenth worst rate of default in the country, according to the latest survey by Irvine, Calif.-based RealtyTrac, a foreclosure research company.
Nick Gioia | www.ngrealtygroup.com