Apr 16, 2008

Foreclosure numbers down

Depending on how you look at the statistics, foreclosures in Texas are down. The Dallas Business Journal reports -

"Texas is bucking the national trend of rising property foreclosure rates, according to a California-based research company. A total of 10,700 Texas properties entered the foreclosure process during March, down more than 16% from the volume of filings recorded in March 2007 .... The March foreclosure figure also represents a decrease of almost 13% from filings reported this past February."

Nationally, the percentage of default notices and bank repossessions were up more than foreclosures. This is a sign that "more defaulting homeowners are simply walking away and deeding their properties back to the lender." Often giving up the deed is easier than the long and ugly foreclosure process.
[where: 75230]

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