The Rising Foreclosures Maintain Their Pace

The number of foreclosures as per the records of DFW area has totaled up to 12

,000 since the previous 6 consecutive fiscal years. The report states that the scenario of Foreclosures not only saw a hike during the last month, but also for the last two quarters of 2009 the situation tended to remain the same. Collin County Foreclosed homes and the Dallas-Fort Worth area leaped to record levels both in the last month and in last quarter, according to data arranged by the Foreclosure Listing Service of Fort Worth.A total of 699 homes will go on the auction in June from Collin County indicating a 39 percent increase from June of 2009 when 502 homes went down to the level of foreclosure status, according to tabulated data.

A total of 2,133 homes were foreclosed on in the second quarter of 2009 from Collin County, representing a 37 percent increase from the same time period last year. The first quarter proved worse than the second with a total of 3,824 homes going up for auction, however, there is smaller increase (24%) from the first quarter of 2008.The hike continued across the board for the rest of the Dallas-Fort Worth area. Dallas County has the highest totals for last month, the first quarter of 2009 and the second quarter of 2009. However, they held some of the smaller increases from the year-to-date totals. Collin County had the second highest increase in foreclosures for the June foreclosure auction and the highest increase during the first two quarters of 2009, according to collected data.George Roddy, president and CEO of FLS, said, Residential postings filed for auctions in the Second Quarter of this year reached a new record high for this foreclosure cycle in each of the four counties within the D/FW Metro."

The overall totals also arrived at the troubling levels in the first quarter alone. He also remarked the second quarter of 2009 scored the sixth consecutive quarter that D/FW home foreclosures have topped 12,000.Around 29,000 foreclosure postings have been filed on D/FW homes for the first six foreclosure auctions of this year, pushing the metros foreclosure posting activity to a new record high for this foreclosure cycle," Roddy said. "This is the highest volume of postings that I have seen in 20 years, since 1989.June's foreclosure listings seem to have started stewing things down, Roddy said.Foreclosure notices filed on D/FW homes for the upcoming auctions in June inched down slightly from the new record level highs for this foreclosure cycle set last month in each of the four counties," he said.

by: Julie Thompson

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