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home : archive : archive June 19, 2019

11/23/2011 9:39:00 AM
D-FW foreclosure filings fall to lowest level in three years

Dallas-Fort Worth foreclosure postings for 2011 dropped 12 percent from last year to the lowest level in three years, according to research released Nov. 23 by Foreclosure Listing Service Inc.

In Tarrant, Dallas, Collin and Denton counties, 56,358 notices were filed this year compared with 63,835 postings filed a year ago.

Tarrant County had the smallest decline, down 9 percent to 18,976 postings this year. For the October, November and December auctions, Tarrant filings also were down 9 percent, to 4,703.

In the four-county area, posting activity dipped 11 percent in the fourth quarter, to 13,978, compared to a year ago, the report said.

The decline marked the third consecutive quarter that D-FW foreclosure postings decreased below 14,000 for the quarter, said FLS President George Roddy Sr. In the prior eight quarters, postings had topped 14,000 per quarter with the record high reached in fourth quarter 2009 when 16,747 postings were recorded.

On a quarter-to-quarter basis, however, fourth quarter’s postings inched up 9 percent over the 12,876 foreclosure notices recorded during the third quarter of this year, Roddy said.

Postings filed in Tarrant County’s December auction totaled 1,784, down 11 percent from the same period a year ago.

Among the four counties, there were 5,346 foreclosures filed in the December auctions, down 12 percent from December 2010.

However, the December total was the highest monthly level in 10 months, Roddy said.

“With both annual and quarterly foreclosure numbers trending downward, monthly levels have certainly declined from this cycle’s record high-end, when monthly postings toppled the 6,000 mark on three occasions,” Roddy said.

He said part of the increase could be lenders trying to get more delinquent mortgages settled before the end of the year and part of it could be the result of some lenders switching firms to handle their foreclosure procedures.

Dallas County had the greatest annual decline at 14 percent, followed by Collin County with a 13 percent fall in home postings, and Denton County down 11 percent.

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