February 13, 2008
(AP) A study shows Virginia ranked 24th in the nation in foreclosures in 2007.
The study done by mortgage research company RealtyTrac says slightly more than one-half percent of the homes in Virginia were in some stage of foreclosure in 2007.
The national average for 2007 was 1.03 percent. In Virginia, there were 24,199 homes in foreclosure last year. That's an increase of 456 percent over 2006 and almost 729 percent over 2005.
Nationally, there were more than 2.2 million homes in foreclosure in 2007, an increase of 75 percent over 2006 and almost 149 percent over 2005.
The study says California led the nation last year with more than 481,000 homes in foreclosure.
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