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Dallas-area foreclosure filings soar to a monthly record

By J.J. Smith. Dallas-Ft. Worth area home foreclosure filings have soared to a new monthly record Foreclosure Listing Service Inc. said last week.

Lenders posted 6,168 foreclosure notices for the April 6th auctions, which is only the second time the area has topped 6,000 in a month, said George Roddy, president of the Addison-based service.

The previous monthly record was 6,072, in July, 2009.

Postings in April are 18 percent higher than a year ago and set records for Dallas and Tarrant counties, said Roddy.

“This foreclosure storm is far from over. I expect home foreclosure postings to continue at a high rate for quite some time.”

Residential foreclosure postings in Rockwall County reached almost 100 with 97 postings filed for April, Roddy explained.

“Monthly postings have been on the high side for some time now.  For ten of the last 13 months, residential foreclosure posting activity in Rockwall County has exceeded 80 foreclosure notices per month.”

“In seven of those months, monthly posting activity surged even higher reaching above 100 for the first time in this foreclosure cycle.  The new monthly record high was set in July of 2009 when 133 postings were filed,” he said.

Over the past year, April’s posting activity has climbed 7%, up from the 91 postings filed for the fourth auction of 2009.

“However, since one year ago marked the record high and because postings have been high for more than just the last year, it is important to look back a little further.  Over the past two years, April’s posting activity has jumped 35% from the 72 notices filed for the April foreclosure auction in 2008,” he continued.

“So far this year, 386 postings have been filed threatening lender repossession of homes located in Rockwall County.  Since postings have been high for some time, postings for this four-month period inched up just 4% from this same time frame in 2009 when 302 notices were recorded.”

“Over the past two years, year-to-date foreclosure posting activity has risen 28% compared to the 291 notices filed for the same period in 2008.”

“The difference was much more pronounced when compared to the first four foreclosure auctions of 2001.  Over the past nine years, year-to-date postings have climbed almost 800% from the same period of time in 2001 when only 43 postings were filed on homes located in Rockwall County.”

“However, it is obvious that over the course of the past nine years, there has been tremendous growth in the Rockwall County area.”

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