Maryland's delinquency rates on residential mortgages increased 9.46%, 37 points higher than it was for the first quarter. Loans in the foreclosure process also rose 14%, according to the Mortgage Bankers Association. Delinquency rates for ARMs and FRMs, as well as FHA and VA loans also increased between April and August. Maryland has been ranked ninth in delinquencies and twenty-third in starting foreclosures. Mississippi is currently the state with the most delinquences and Nevada has the highest rate of starting foreclosures.

However, loans on which foreclosure has started was down 10 basis points and foreclosure start rates for prime ARMs were also down 47 points.

If you are facing the foreclosure of your home due to late mortgage payments, contact the Maryland mortgage modification lawyers of Chaifetz & Coyle, P.C. at 443-546-4608.