August foreclosure filings up 36% nationwide

Nationwide 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.

Georgia averaged one foreclosure filing for every 271 households. This is the 4th highest rate in the nation.

"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.