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According to a Reality Trac report, markets on the East Coast and Midwest were hardest hit by foreclosure increases.
“February’s numbers point to a gradually rising foreclosure tide as some of the barriers that have been holding back foreclosures are removed,” said Brandon Moore, CEO of RealtyTrac said in a statement. “Although national foreclosure activity was pushed lower by decreases in a handful of larger states, 21 states posted annual increases in foreclosure activity, the most states with annual increases since November 2010.”
Also according to the report, Riverside-San-Bernardino, Atlanta, Phoenix, Miami and Chicago were the metro areas with the highest foreclosure rates.