Baltimore posts lowest housing recovery score
Judicial foreclosure system creates massive foreclosure backlog
Greater Baltimore faces a significant backlog of foreclosures because of its status as a judicial foreclosure state, causing the city to have the lowest housing recovery index score in the nation, the Baltimore Business Journal reports.
The business publication further highlighted the problem this week:
Maryland Department of Housing and Community Development Commissioner Raymond Skinner issued a statement in response to RealtyTrac’s report noting that “the state’s continued high rate of foreclosure is the anticipated result of the continued clearing of long delinquent loans.”