Foreclosures in Virginia continue to rise from a year ago, but the rate here is better than it is nationally.
One in every 567 Virginia households, or a total of 5,694, received a foreclosure filing in November, according to a RealtyTrac report released today. By comparison, one in every 488 U.S. households receiving a filing. Filings include notices of default, trustee sales and foreclosure sales, according to the online database.
Filings here rose 121 percent last month from November 2007, while nationally they increased 28 percent, according to the report.
The U.S. Office of Thrift Supervision recently reported that more than half of mortgage loans modified in the first half of this year to reduce monthly payments are delinquent again.
"Many of these delinquencies could turn into foreclosures next year," James J. Saccacio, chief executive officer of RealtyTrac, said in a statement.
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