Virginia Foreclosures Skyrocket In First Quarter Of 2007

8 de junio de 2007

<body><div id="article"><tr><td height="23" valign="middle" width="184"></td><td valign="middle" width="185"></td></tr><h1>Virginia Foreclosures Skyrocket In First Quarter Of 2007</h1><p>June 8, 2007 (LPAC)--Foreclosures for the first quarter of 2007 in Virginia increased by 138% compared to the first quarter of 2006, according to RealtyTrac.com yesterday. No doubt, events at "ground zero," Loudoun County, have something to do with this. Foreclosure experts predict that if current trends continue, there will be 10,000 foreclosures in the state by year's end.</p><p>Although the high foreclosure rate is being explained by the sub prime mortgage mess, analysts point to other factors related to the economic crisis afflicting the country at large: job loss, a medical problem, "something out of their control," as one attorney explained it. There's the "paycheck-to-paycheck" margin on which many people are operating each month. "If you get sick or the water heater breaks, you may have no margin for error," Harrisonburg lawyer Bill Shmidheiser told NewsVirginian.com.</p></div></body>