Well, a rapidly growing number of Virginians is learning - the hard way - what it means to them and how it is going to affect their lives in a very real, dramatic way:
Foreclosures increase dramatically in Virginia1,959 foreclosures just last month. With many more to follow ...
They rose 303 percent in July, compared with the same month in 2006
By Carol Hazard, Richmond Times-Dispatch Staff Writer
The number of foreclosures in Virginia rose by 303 percent in July from the same month a year earlier, according to a report that was released yesterday by RealtyTrac, an online marketplace for foreclosed properties.
Virginia recorded 1,959 foreclosure filings during July, which represented one in every 1,621 households, as more people failed to make mortgage payments.
Virginia ranked No. 21 among the states. (link)