Category Archives: Maryland Bankruptcy

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Maryland Ranks Fourth In Foreclosure Rate

According to the Baltimore Business Journal, Maryland ranked fourth in the nation in the rate of home foreclosures in August, with a 24 percent rise in new filings from August 2012. For more than a year now, foreclosure rate numbers in Maryland have been in the top 10 in the nation. The BBJ reported that the foreclosures are not a sign of a downward economy in the state; rather, many of the homes entered the foreclosure process several years ago but were delayed due to Maryland entering a court settlement with mortgage lenders. In July, the Baltimore Sun reported that more than $15 million in payouts were sent to Maryland residents who submitted a valid claim through the National Mortgage Settlement after 49 state attorneys general entered into a settlement with lenders Wells Fargo, Bank of America, Citigroup, JPMorgan Chase and Ally Financial last year. The settlement stemmed from allegations…
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