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Foreclosures keep climbing
Foreclosure totals for the DFW area topped 12,000 for the last six consecutive fiscal quarters.
By Danny Gallagher, McKinney Courier-Gazette
Foreclosures not only saw a jump last month, but also for the last two quarters of 2009.
A total of 699 homes will go on the auction block in June from Collin County. That represents a 39 percent increase from June of 2009 when 502 homes went under foreclosure status, according to tabulated data.
Collin County also experienced large increases during the first two financial quarters of the year. A total of 2,133 homes were foreclosed on in the second quarter of 2009 from Collin County, representing a 37 percent increase from the same time period last year. The first quarter fared much worse than the second with a total of 3,824 homes going up for auction, but it represented a smaller increase of 24 percent from the first quarter of 2008.
The increases continued across the board for the rest of the Dallas-Fort Worth area. Dallas County has the highest totals for last month, the first quarter of 2009 and the second quarter of 2009. However, they held some of the smaller increases from the year-to-date totals. Collin County had the second highest increase in foreclosures for the June foreclosure auction and the highest increase during the first two quarters of 2009, according to collected data.
George Roddy, president and CEO of FLS, said there were record numbers of foreclosures across the board.
“Residential postings filed for auctions in the Second Quarter of this year reached a new record high for this foreclosure cycle in each of the four counties within the D/FW Metro," Roddy said by email. "This includes Dallas County, Tarrant County, Collin County, and Denton County.”
The overall totals also reached disturbing levels in the first quarter alone. He also noted the second quarter of 2009 marked the sixth consecutive quarter that DFW home foreclosures have topped 12,000, Roddy said.
“Around 29,000 foreclosure postings have been filed on D/FW homes for the first six foreclosure auctions of this year, pushing the metro’s foreclosure posting activity to a new record high for this foreclosure cycle," Roddy said. "This is the highest volume of postings that I have seen in 20 years, since 1989.”
June's foreclosure listings seem to have started simmering things down, Roddy said.
“Foreclosure notices filed on D/FW homes for the upcoming auctions in June inched down slightly from the new record level highs for this foreclosure cycle set last month in each of the four counties," he said.
Contact Danny Gallagher at dgallagher@acnpapers.com.
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