Home foreclosure filings soared to a new monthly record in the Dallas-Fort Worth area, Foreclosure Listing Service Inc. said Thursday.
Lenders posted 6,168 foreclosure notices for the April auctions – only the second time the area has topped 6,000 in a month, said George Roddy, president of the Addison-based service.
The previous monthly record was 6,072, in July.
April's postings are 18 percent higher than a year ago and set records for Dallas and Tarrant counties, Roddy said.
"This foreclosure storm is far from over. I expect home foreclosure postings to continue at a high rate for quite some time," he said.
So far this year, 22,305 residential properties have been posted for foreclosure in Dallas, Collin, Denton and Tarrant counties. That's up 21 percent from the first four months of 2009 and the highest Roddy said he has seen for the period.
For 13 consecutive months, Dallas County has exceeded 2,000 homes posted for foreclosure.
Fewer than half of the homes scheduled for foreclosure auction each month are sold by lenders. In many cases, the mortgage company is negotiating a debt restructuring with the homeowner and delays taking the house. In other cases, borrowers reach new debt terms or hand over their homes without foreclosure.
Auctions are held the first Tuesday of every month.
By Maria Halkias / The Dallas Morning News / March 19, 2010
D-FW FORECLOSURE POSTINGS
Residential properties scheduled for foreclosure in April and the change from a year ago:
| COUNTY | NUMBER | CHANGE |
| Collin | 807 | 16% |
| Dallas | 2,606 | 16% |
| Denton | 677 | 19% |
| Tarrant | 2,078 | 22% |
| Total | 6,168 | 18% |
SOURCE: Foreclosure Listing Service
{ 3 comments… read them below or add one }
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