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Foreclosure postings rise 5% in North Texas

In all, 1,479 homes were posted, up 5 percent from 1,406 for the August auction in 2011. For the July auction, 1,436 postings were filed in Tarrant County.

But George Roddy Sr., president of Foreclosure Listing Service, said year-to-date numbers are a better indicator for the market. Last year, lenders had slowed postings or didn’t follow through with foreclosures as the states worked out legal issues surrounding problems such as robosigning of documents. Now lenders are getting active again with foreclosures, he said.

For the four-county North Texas area of Tarrant, Dallas, Denton and Collin, 4,274 postings were filed for the August auction, up 6.2 percent from last year. However, about 65 percent of the filings had been previously posted. Year-to-date postings are down 9 percent from last year. So far this year, 11,555 postings have been filed in Tarrant County, compared to 12,665 last year. In the peak year of 2010, 13,653 postings had been filed by this time.

“We know there’s a lot of deals out there that Fannie [Mae] and Freddie [Mac] haven’t moved on before,” Roddy said, referring to the two mortgage financing giants.

Roddy said he expects numbers to stay elevated through the end of the year but come nowhere close to the peak two years ago. That’s when residential foreclosures tipped the scales in Dallas-Fort Worth at 63,835 filings for the year. Of those, 20,751 were in Tarrant County.

Dallas experienced the highest increase in postings for next month’s auction with 1,772 homes posted, up 12 percent.

Sandra Baker, 817-390-7727

Twitter: @SandraBakerFWST

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Article source: http://www.star-telegram.com/2012/07/30/4139063/foreclosure-postings-rise-5-in.html

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