Virginia had the 15th highest foreclosure rate among the 50 states and the District of Columbia in the first quarter, according to figures released yesterday by RealtyTrac, an online resource of foreclosed properties.
One in every 246 households in Virginia — or a total of 13,151 — received notices of default, auction sales and bank repossessions [...]
Continue reading about Foreclosures increase substantially in state and Richmond area
The foreclosure rate in Virginia remains fast and swift. However, in a nationwide ranking, Virginia ranked right in the middle. I guess that is good news.
Study says Va. ranked 24th in 2007 foreclosures – News – inRich.com
Hopefully, our ranking will go down with some of the loan modification agreements that the major lenders [...]
Continue reading about Study says Va. ranked 24th in 2007 foreclosures – News – inRich.com
From the Dec 30th Richmond Times Dispatch. Housing 101 a helpful class – News – inRich.com
From the related in formation file:
Worried about foreclosure? Don’t ignore the problem. The further behind you get, the harder it will be to reinstate your loan and the more likely that you will lose your house. Contact your lender [...]
In the Dec 23 Richmond Times Dispatch, there was an article entitled: Virginia Foreclosures Rising.
Here are a few quotes:
The number of foreclosures in Virginia is expected to rise to about 14,000 this year, up from 4,354 in 2006, and could hit 20,000 next year, according to Housing Opportunities Made Equal Inc., a housing advocacy [...]
Continue reading about Article: Virginia Foreclosures Rising
I have found this article today at another blog: Why mortgages have eaten Americans out of house and home | Wise Bread and thought it would be useful in the discussion on foreclosure.
At some point, people stopped calculating what they could afford long-term and started chasing what was just (or substantially) beyond reach, made possible [...]
Continue reading about Expensive Mortgages lead to Foreclosure
Monday November 19, Dreams In Distress focused on a Chesterfield family that is facing foreclosure because of their subprime mortgage adjusting.
"They are among the estimated 14,000 Virginia households facing foreclosure this year."
Their payment adjusted from $1,250 to $1,650, making the house no longer affordable. They are hoping for a loan modification, but there is [...]
Continue reading about Feature: Local Family Postpones Foreclosure.
I received an email from Arie Brown this evening from ProActive Lending Solutions.
As you know the real estate market and mortgage lending has experienced some major changes during 2007, and will continue to see changes in the future as well. I want to share some information with you that I feel is important and I [...]
Governor Kaine Creates Virginia Foreclosure Prevention Task Force was a press release issued today.
I’m glad that the State is getting involved in Foreclosure Prevention. Nearly 4 out of 5 loans in foreclosure in the state were sub-prime. And there are still many more looming on the horizon.
Virginia’s foreclosure process is brutally fast. This is another [...]
Continue reading about Governor Kaine Creates Virginia Foreclosure Prevention Task Force
There is a new nationwide course, available online and anonymous as well.
‘Keeping Your Home,’ New Online Course Designed to Help Homeowners Nationwide Avoid Foreclosure, Now Available at CCCSInc.org :
I have not had any experience with this course, but provide it as a resource to help educate you.
Some states have a foreclosure process that [...]
Freddie Mac has published a resource on how to avoid foreclosure: Freddie Mac: Avoiding Foreclosure .
In it, there are some possible options that lenders may give you to work out a way to avoid selling your property.. Some typical options:
Depending upon your situation, your mortgage company may be able to provide you with temporary financial [...]
Continue reading about Freddie Mac: Avoiding Foreclosure — working with your lender