(Host) The number of home foreclosures in Vermont continues to climb.
There were 443 new foreclosures in the past three months. That’s a 65% increase over the same period last year.
Tom Candon of the State Banking Division says, based on the calls to his department’s Mortgage Assistance Program, the foreclosures aren’t the result of the lending crisis that has hit other parts of the country.
Instead, says Candon, they’re a sign of a struggling economy.
(Candon) "We’ve been surprised to find that over 50% of the people calling in are those who are having trouble with loss of job, loss of income. We have another 20% that are divorce, separations. We have another 20% that are medical.
(Host) Candon says he expects the number of foreclosures to continue to rise.