According to the latest figures released, the state of Florida recorded the highest foreclosure rate in the nation during the 2012.

Data from RealtyTrac showed that Florida surpassed Nevada for the first time in foreclosure rate. About 3.11 percent homes some sort of foreclosure filing during the previous year in Florida. Data showed that most of the increase comes from loans that were soared a long time ago and not new defaults.

The Foreclosure activity in Florida increased 53.5 percent in 2012 from the year earlier. The rise in foreclosures comes after new mortgage settlement agreement between lenders and the authorities.

The settlement agreement includes ten mortgage companies including Bank of America, Citibank, JP Morgan Chase and Wells Fargo as well as the Office of the Comptroller of the Currency and the Federal Reserve Board.

The agreement came after a similar $15 billion National Mortgage Settlement reached between five largest banks and a coalition of state attorneys general. The aim of the settlement is to replace the Independent Foreclosure Review, which was formed to review cases on an individual level.

Daren Blomquist, vice president at RealtyTrac said, "With the Miami numbers we're seeing the expected rise off the artificially low numbers in 2011 as lenders pushed through foreclosures delayed by questions surrounding proper foreclosure documents and procedures."