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Stafford County, Virginia ranks number 53 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 Stafford County the ratio is even more
alarming. One of every 202.11 households in the county is now facing
foreclosure; more than twice the national level.
With just 40,220 households and total foreclosure filings in
August reaching 199, Stafford 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 Stafford 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 can 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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