Nationwide foreclosure filings jumped 36 percent from July to August
Tuesday, September 18th, 2007Nationwide foreclosure filings jumped 36 percent from July to August, data provider RealtyTrac reported today, led by sharp increases in Sunbelt states where inflated home prices rather than economic problems like job losses are thought to be the driving factor.
“The jump in foreclosure filings this month might be the beginning of the next wave of increased foreclosure activity, as a large number of subprime adjustable-rate loans are beginning to reset now,” James Saccacio, chief executive officer of RealtyTrac, said in a statement accompanying the release of the report.
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