News

City of F.C. Has Lowest Foreclosure Rate in Region

According to an Urban Institute study, the City of Falls Church has the lowest percentages of 90-plus-day delinquent mortgages and homes owned by banks in the Washington, D.C. Metro region. The total number of regional homeowners in foreclosure has doubled in the last year, according to the study.

Falls Church’s 90-plus delinquency percentage of total mortgages is 0.9 compared to 4.1 percent for the overall region (and 2.5 percent for Fairfax County), and bank-owned homes is 0.5 percent compared to 1.2 percent in the region (and 0.8 percent for Fairfax County). Highest Northern Virginia delinquencies are 6.3 percent in Manassas (bank owned 2.7 percent) and 5.5 percent in Prince William County (bank owned 2.1 percent).