Maryland foreclosures on the rise; forecast grim for homeowners

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The number of Maryland homes under foreclosure threat nearly doubled over the past several months, according to new data, prompting lawmakers and lenders alike to propose a mandatory 135-day minimum between default and the foreclosure sale.

Lenders foreclosed on more than 7,000 homes in the third quarter, a 71 percent jump from the second quarter and a 640 percent increase from this time last year, according to figures from California-based RealtyTrac, cited by Department of Labor, Licensing and Regulation Secretary Tom Perez in a General Assembly committee hearing.

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