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The Foreclosure Trend
posted 11:49 pm Wed July 23, 2008 - Lynchburg, VA
reporter: Brian Damewood
posted by: Webteam
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In the Lynchburg area, we're continuing to fight the foreclosure trend. RealtyTrac.com shows there were only three new foreclosures in Lynchburg in May. Bedford County had two. Bedford City had one.
Appomattox, Amherst and Campbell counties didn't show up on that list. Professionals say our steady housing prices and strong employment rate contribute to the area's low foreclosure rate.
Betty Burch, Lynchburg Association of REALTORS - “Whether it's an hourly job, a commission job, a regular salary job. They are all able to stay employed if they want to."
Betty Burch says Northern Virginia's foreclosure rates are much higher, because mortgages there are more expensive.
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