Foreclosure postings filed on Dallas-Fort Worth homes for the January foreclosure auction were down, although levels remain elevated.
Lenders posted 5,543 D-FW metro area homes for the Jan. 4 foreclosure auction, down 6% from 5,894 postings for January auctions a year ago and down 9% from December’s 6,081 postings. In comparison, only 1,039 foreclosures were posted for auction sales in January 2000, according to Foreclosure Listing Service, based in the Dallas suburb of Addison.
“January’s year-over-year decline in home postings marked the seventh time during the past nine months that there has been a decrease in the same month year-over-year comparison,” said George Roddy Sr., president of FLS.
“While any decline is welcomed news, I must caution that this does not mean the foreclosure market has turned the corner. In fact, we are most likely far from a real recovery in the foreclosure arena.”
The average posting filed on a D-FW home involved a delinquent mortgage that originated back in the middle of 2004.
“Certainly, there was a tremendous amount of lending that went on in 2004, 2005, 2006 and even in 2007; therefore, the market has a lot more troubled loans to work through before this foreclosure crisis will improve a significant amount.”
A record high was set in April with 6,168 notices filed.
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