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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (60657)5/26/1999 8:41:00 AM
From: Ilaine  Read Replies (1) of 132070
 
Foreclosures up in Northern Virginia, wonder why? This has been a "hot market" for houses recently. Why go to foreclosure when you can sell?

Edit: maybe the lenders have worked through the backlog of houses they got in the real estate bust of the early '90's, and want to flip the houses while the market is hot? During mid-90's, I was personally aware of a lot of people with non-performing loans who were not being foreclosed on because of the saturated market.
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