DALLAS (Dallas Morning News)
– Metroplex 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.
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
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.