In desperation to pay up for their foreclosure problems, some Virginia Beach homeowners ended up losing their homes. Scammers have seen another way to swindle.
Foreclosed tax deed sales and distressed sales jumped in some areas of Virginia in January. Percentage of distressed home sales for the month was a record high.
Local governments are providing funds to neighborhoods suffering from Virginia foreclosures quicker than before as the Congress-set deadline for using federal funds approaches.
The rate of Roanoke foreclosures shot up by an overwhelming 353 percent in 2009 from 2008. Job losses that pushed up the unemployment rate from 4.4 percent to 7.1 percent in 2009 largely caused the rise in foreclosures.
To prevent their houses from becoming foreclosed homes, families and individuals in Roanoke have been taking in renters or relatives to save money, cut living costs and help each other out.
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