Thursday, July 31, 2014
Dallas-area home foreclosures fal
Dallas-area home foreclosures have fallen almost 25 percent from where they were a year ago, according to a June report.
Lenders had 6,683 Dallas-area homes in the 12-month period ending in June, CoreLogic said Thursday.
That’s the 10th highest foreclosure rate in the country but is down sharply from a few years ago.
The highest home foreclosure volumes were in Tampa-St. Petersburg, 18,912, and Atlanta, 18,339, according to CoreLogic.
“While 32 straight months of year-over-year decline in the foreclosure rate is cause for celebration, the total number of homes still in the foreclosure process remains almost four times as high as the average in the early 2000s,” Mark Fleming, chief economist for CoreLogic, said in the report.
In June 648,000 homes across the nation were in some stage of foreclosure – a 35 percent year-over-year decline.
Less than 1 percent of Texas homes are in foreclosure.
Not all homes scheduled for foreclosure are sold by lenders. In many cases the forced sale is delayed or never happens as the borrower and lender negotiate.