RealtyTrac: New Foreclosures Jump

RealtyTrac, an online foreclosure marketplace based in Irvine, Calif., has reported that the number of new properties entering some stage of foreclosure rose 24% in August and was 53% higher than the level recorded a year earlier.The company's U.S. Foreclosure Market Report indicates that 115,292 new foreclosure properties were added to the rolls in August. "After spiking early in the year, U.S. foreclosure activity has been relatively flat over the last few months," said James J. Saccacio, RealtyTrac's chief executive officer. "But foreclosures ramped up significantly in August, pushing the national foreclosure rate close to its highest level of the year so far." The company said Colorado recorded the highest foreclosure rate of any state for the sixth consecutive month in August, spiking nearly 60% from that of July. RealtyTrac can be found online at http://www.realtytrac.com.