Meet our incredible 2015 Women of Influence

Meet our incredible 2015 Women of Influence

Announcing 40 leaders driving the housing economy

CFPB to mortgage industry: Get out of MSAs

Industry calls move regulation by enforcement

This is why millennials need a new credit scoring system

Turns out they WANT credit, but just can't GET credit
W S
Servicing / The Ticker

Washington D.C. foreclosures climb after government budget cuts

jobs
/ Print / Reprints /
| Share More
/ Text Size+

According to Bloomberg, foreclosure starts climbed in the Washington D.C. suburbs last month following federal budget cuts that made it harder for former government employees to pay their monthly mortgages.

Initial foreclosure filings climbed 144 percent from August in Fairfax County, Virginia, and more than doubled in Prince William, Loudoun and Fauquier counties, the real estate research firm said today. Fairfax’s jump was the biggest nationally among counties with populations of 1 million or more.

“There is no question that the sequester has had an impact on the economy in Washington,” Brian O’Reilly, president of Collingwood Group, said. “And against the backdrop of the current shutdown, I would say it would not be a surprise to anyone to see continued softening in this area.”

Source: Bloomberg
Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus