Vermont, New Mexico Had Greatest Increase in Foreclosures in Third Quarter

Foreclosure CrisisNew Mexico was among the leaders of a nationwide trend of increased foreclosure activity in the third quarter, posting a 50 percent jump from the previous quarter, RealtyTrac reported Thursday.

The jump was driven by the front end of the process, with 1,659 homeowners receiving notice that foreclosure proceedings had been opened against them in the local district court. Another 1,236 houses were either scheduled to be sold in a foreclosure sale or had been repossessed by banks.

Nationwide, foreclosure activity ticked upward by an average of less than 1 percent from the second quarter to the third quarter, RealtyTrac reported. Only Vermont, at 85 percent, had a higher rate of increase than New Mexico. There were 27 states seeing declines in foreclosure-related activity.

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