There were 2,431 Dallas- Fort Worth commercial real estate foreclosures in 2009, that’s up from 1,900 commercial foreclosures in 2008.

The biggest rise in commercial foreclosure filings in 2009 was in postings for office – up 121 percent – and retail buildings, up 20 percent.  Foreclosure filings for commercial land also increased by 71 percent compared with 2008. Apartments were near the top of the list of commercial …

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According to an article in the Star-Telegram, commercial property foreclosure postings rose by 12 percent in North Texas from a year ago.

The article said:

“There have been 384 postings in Tarrant County through July, down 27 percent from a year ago, according to Addison-based Foreclosure Listing Service. In Dallas County, postings are up 27 percent. Those two counties account for 77 percent of the 1,245 postings in the area, which …

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Commercial real estate foreclosures may be poised to be a major Achilles heel for the financial recovery we all hope to see.  Many commercial real estate properties are losing serious value and tenants causing a jittery reaction of commercial real estate lenders.   It’s becoming a common headline to hear about some “poor” real estate developer who lost his/her shirt because a loan …

Tags: Commercial dallas Economy foreclosure fort worth

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Community property rules have positives and negatives, but if you live in Texas you have to abide by them.

When the subject of marriage and bankruptcy comes up, the next thing often mentioned is community property.  Depending upon where you live, this may or may not mean anything to you, but Texas is one of nine states that adheres to the community property rules.    An article on the associated …

Category: Bankruptcy , Property Exemptions , bankruptcy law

Tags: Community Property Divorce Marriage Texas

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… senior citizens are being targeted by a company claiming that they can help them pay less in property taxes.  Many senior citizen homeowners have received very official looking papers in the mail with a Fort Worth P.O. Box asking that they send $55 for help reducing their property taxes.

The article said:

“When Gilberto Perez received an official-looking letter regarding his property taxes, he suspected a scam. The 75-year-old retired military veteran knew that he had already …

Category: Fort Worth Attorney , Lawsuits , Property Exemptions

Tags: Better Business Bureau Fort Worth Texas Fort Worth Star-Telegram Property tax

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… myths about bankruptcy is that debtors who file bankruptcy will lose all of their personal property.  For the umpteenth time, this myth is simply not true.  A matter of fact, most debtors who file Chapter 7 bankruptcy do not lose any of their property.  Every state, plus the federal bankruptcy code provides a generous amount of exemptions for debtors to use during bankruptcy.  Exemptions protect the debtor’s property from seizure during the bankruptcy process.  For example, …

Tags: Bankruptcy Exemptions Property

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Many debtors behind on both their mortgage and property taxes wonder if bankruptcy can be used to stop a property tax sale of their home.  Fortunately for debtors facing a property tax sale of their home, bankruptcy can be used to stop the sale if they move quickly. Here’s what you need to do:

Before filing for bankruptcy, find out if there is a property tax lien on your home. In the state of Texas, ad valorem taxes are given the …

Tags: Bankruptcy Lien Property Taxes

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Holding rental property when filing bankruptcy can impact your “means test” and your post-bankruptcy fresh start depending on the circumstances surrounding that property.  Let’s take a look at a few scenarios:

If you have a rental property with a paying tenant, the rent received will be counted towards your income.  This fact alone could cause you to “fail” the means test which would …

Tags: Chapter 13 Bankruptcy Chapter 7 Bankruptcy Filing Bankruptcy foreclosure Landlord Rental Property

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The state of Texas is a “community property” state which means that property in which both spouses own shares and property acquired during the marriage is considered “community property.” Community property only exists within marriage. What does this mean for a spouse considering bankruptcy?

Married couples where one or both spouses are considering bankruptcy must carefully weigh whether they should file jointly, …

Tags: Bankruptcy Community Property Law Marriage Texas

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Have you noticed the commercial centers near you growing a little quieter lately?  If so, you’re not alone.  Commercial real estate nationwide has taken a beating that has many experts fearing the worse.  Vacancy rates have soared while rents have hit rock bottom. And many property owners are struggling to avoid foreclosure. Some have even filed for bankruptcy.  According to the report Emerging Trends in …

Tags: Bankruptcy Commercial property foreclosure Real estate

According to an article in the Dallas Morning News, Dallas- Fort Worth ’s commercial real estate industry may face another year of foreclosures as more properties lose value and financing.

The article said:

“The vast majority of buildings bought after 2005 are absolutely not worth the debt,” said Paul Whitman, president of commercial real estate firm Jones Lang LaSalle’s Dallas office. “Don’t be shocked that there will be hundreds of millions of dollars …

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According to an article in the Star-Telegram, an increasing number of commercial property loans may face foreclosure in the next few months, as interest-only loans that were issued in the past several years reset.

The article said:

“There’s a massive amount of these loans ready to hit market,” said Ben Loughry, managing partner of Integra Realty Resources in Fort Worth and Dallas. “The commercial real estate bubble is continuing to grow.”

Even …

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