METROPLEX HOME FORECLOSURE FILINGS DROP
Fort Worth and Dallas home foreclosure filings for September are down 19 percent from a year ago, marking the seventh month in a row that they have fallen year over year according to the Dallas Morning News.
More than 4,700 homes are scheduled for sale at next month’s foreclosure auctions, according to Addison-based Foreclosure Listing Service (FLS). So far this year, home foreclosure filings are down 12 percent from the same period last year.
Denton County had the biggest decline, with filings down 28 percent. Dallas County had a 19 percent drop.
Some 42,380 homes in the four-county area have been threatened with foreclosure so far this year, compared with more than 48,000 foreclosure filings by the same time last year.
A growing number of those homes are “upside-down,” meaning they are worth less than what is owed on the mortgage.
“Upside-down postings have surged 34 percent in the past year, with 28 percent of the homes posted so far this year involving homes in this no-win situation,” said FLS President George Roddy.
Latest surveys show that about 12 percent of Dallas-area residents with a home loan owe more than their property is worth.