Wednesday, June 8, 2011

Virginia is #9 On This Awful List of States

Nearly 30% of Virginia mortgage holders are at or near negative equity.  This means they can't refi, would have to sell for less than what they paid, or try to arrange a short sale.   Or they have to suck it up and keep paying for an "asset" that will never recover its value.  Is it any wonder foreclosures are up 25% this year over last year?

CNN says, "Walk Away From Your Mortgage?  It's Time to Get Ruthless"

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