The U.S. home foreclosure rate has hit the highest level in 25 years. Families across the country are losing their homes. In many cases because falling home prices have made their adjustable rate mortgages no longer affordable.
A record 5.4 million homeowners were either overdue on payments or in foreclosure at the end of last year.
About a year ago, the News-Press got in trouble with some folks (we’re always so bad!) for publishing an exclusive report on declining trends in the regional real estate market that included expert insights from inside the realty business. Lots of real estate types got their knickers in a twist […]
Risky Loans Up 300% in Fairfax Co. Since ‘01 A five-year boom in sub-prime and high interest mortgage lending in Fairfax County is coming around to bite the regional economy on the backside as the housing market flattens, and that could spell real woe.