Home Foreclosures in Dallas – Fort Worth

August 15, 2008

The latest foreclosure statistics show only a 7 percent increase in the Dallas-Fort Worth area from a year ago.

But more than 3,700 homes are scheduled for foreclosure sale in September, according to the numbers released Thursday by Addison-based Foreclosure Listing Service.

The Dallas Morning News reported, the biggest gain in September foreclosures is in Collin County, where the number of homes facing forced sale jumped 38 percent from a year ago.

Foreclosure totals were unchanged in Dallas and Tarrant counties.

The period ending with September’s foreclosure auctions will be the second quarter in a row that total postings in the area have declined.

"It’s a welcome change, but I don’t think you can say it’s for a definite reason or that it will continue," said Foreclosure Listing Service president George Roddy. "We’ve seen before that foreclosure postings go up and down."

So far this year, 37,572 residential properties have been posted for foreclosure – an increase of 20 percent from the first nine months of 2007.

Between 50 percent and 60 percent of the monthly foreclosure postings result in an actual forced sale of the property.

In some cases the sales are delayed, or the borrower reaches a new agreement regarding the debt.

 

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