RealtyTrac: New Foreclosures Jump

Meanwhile, RealtyTrac, another online foreclosure marketplace based in Irvine, Calif., has reported that the number of new properties in some stage of foreclosure rose 13.5% in December.The company's Monthly U.S. Foreclosure Market Report indicates that 81,290 new foreclosure properties were added to the rolls in December. "December's higher U.S. foreclosure rates were almost exactly the same foreclosure rates reported in October, which means that the two months with the highest numbers of foreclosures were both in the fourth quarter of 2005," said Jim Saccacio, RealtyTrac's chief executive officer. "These rising numbers to finish off the year may indicate that economic factors such as higher interest rates are making it harder for some homeowners to stay current on their mortgage payments." The company said Texas recorded the highest foreclosure rate of any state in December, surging 61% (to 12,753 new foreclosures) and accounting for over 15% of new foreclosures in the nation. RealtyTrac can be found online at http://www.realtytrac.com.