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Spotsylvania County, Virginia ranks number 51 of 100
counties in the nation with the highest percentage of households
facing
foreclosure, according to data provided in RealtyTrac's August 2007
U.S. Foreclosure Market Report.
In August, 243,947 foreclosure filings were reported nationwide;
up 36 percent from the previous month and up 115 percent from August
2006. This is the highest number of foreclosure filings in a single
month that RealtyTrac has reported since it began issuing the
monthly report in January 2005.
The report also showed a national foreclosure rate of one
foreclosure filing for every 510 households for the month; the
highest national ratio ever issued by the foreclosure tracking
company.
For homeowners in Spotsylvania County the ratio is even more
alarming. One of every 199.72 households in the county is now facing
foreclosure.
With 41941 households and total foreclosure filings in August
reaching 210, Spotsylvania County is one of 8 counties in Virginia
to make the national list for counties with the highest foreclosure
rates.
Although it is unclear what may have caused foreclosure activity
in Spotsylvania County to spike, one thing is clear. The situation
is a national crises for homeowners with mortgages they can no
longer afford AND an unprecedented opportunity for investors and
home buyers.
The resources listed below may help you protect your home,
lower and even cancel your mortgage, or find a new home at a price
no one could have imagined just a few years ago.
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