Foreclosures in Va drop 30 percent in January

Posted by Colby Rogers - email

RICHMOND, Va. (AP) - Foreclosures in Virginia fell by 30 percent in January.

Data released Thursday by RealtyTrac shows that 5,366 households received a foreclosure filing in January, including notices of default, auction and foreclosure sales.

RealtyTrac spokesman Daren Blomquist said other states also saw declines in January. He says the drop in foreclosures could be connected to lender moratoriums on foreclosure sales.

Despite the improvement, the number of foreclosures in Virginia was 82 percent higher than a year ago.

Helen O'Beirne with Housing Opportunities Made Equal Inc. of Virginia says many new foreclosures are related to job losses, high medical bills or owing more than the houses are worth.

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