After five straight quarterly drops, default notices that start the foreclosure process increased 14 percent nationwide from the second quarter to the third quarter of 2011, signaling that another wave of foreclosure activity is beginning in many parts of the country. Although this wave will probably not crest as high as the foreclosure wave of 2007 to 2010 that resulted in more than 3 millionborrowers losing their properties to foreclosure, it comes on the heels of a temporary lull in foreclosure activity caused by foreclosure delays over the past year.
This new wave of foreclosures is hitting some markets particularly hard. Below are graphics showing the 20 markets nationwide with the biggest quarterly increase in new foreclosure starts in the third quarter.
Source: realtytrec
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