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 …

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More than 5.7 percent of Dallas- Fort Worth homeowners are more than 90 days delinquent on their mortgage and facing a possible foreclosure.  Plus, another 1.41 percent of Dallas-Fort Worth homeowners are already in foreclosure.  The irony of this is that we are constantly being told that the recession is clearing and that things are getting better.  But all the while Dallas-Fort Worth homeowners are risking foreclosure because …

Category: Dallas Bankruptcy , Economy , Foreclosures , Fort Worth Bankruptcy

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According to an article in the Dallas Morning News, more than 250 Dallas- Fort Worth area commercial and investment properties are facing foreclosure in October. The properties have more than $400 million in debt attached to them and included in the foreclosure filings are several large developments.

The article said:

“The just-completed Two Addison Circle office building on the Dallas North Tollway is scheduled for foreclosure action by lender Wachovia Bank. …

Category: Dallas Bankruptcy , Foreclosures , Fort Worth Bankruptcy

Tags: dallas foreclosure fort worth Real estate

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… in the Dallas Morning News, the number foreclosures scheduled for next month in the Dallas- Fort Worth area  increased by 34 percent from a year ago.

The article said:

“Much of the increase is due to loan modification programs, which have delayed foreclosures from previous months. Almost 6,000 homes are scheduled to be sold at foreclosure next month…”

And some of the foreclosures are reposts from previous months.  Many homeowners attempting to avoid foreclosure thorough a …

Category: Bankruptcy , Dallas Bankruptcy , Economy , Foreclosures , Fort Worth Bankruptcy , Loans / Mortgages , Subprime Mortgages

Tags: Dallas-Fort Worth foreclosure Mortgage

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More than 42,000 Dallas-Fort Worth area homes have gone on the foreclosure auction block since January 2008, up more than 35% from 2007, according to the Dallas Morning News. This is a new record for Dallas-Fort Worth. But despite the rise in foreclosures, the market remains unstable with only 40% of the homes being sold after they go to auction.

There seems to be an unusual surge of homes going into …

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According to an article in the Star-Telegram, Dallas- Fort Worth has one of the worst oversupply of condos in the country.  Dallas alone has a five-year supply of million-dollar condo units sitting empty.  The high priced condos account for 1 out of every 4 condos in foreclosure The glut of condos have been hurting prices and forcing many condo owners into foreclosure because they simply can’t sell their units for anywhere near what they would …

Category: Dallas Attorney , Economy , Foreclosures , Fort Worth Attorney , Loans / Mortgages , Unemployment - Job Loss

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5,548 Dallas- Fort Worth area homes were posted for forced sale in March’s foreclosure auctions.

 

Concerning foreclosures, the Dallas-Fort Worth area is definitely not out of the woods yet.  There has been somewhat of a turnaround in the economy, but many people are continuing to struggle.  According to Dallas area-based Foreclosure Listing Service Inc., 5,548 homes were posted for forced sale in …

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Despite claims that the recession has ended, foreclosures in the Dallas-Fort Worth area continue to rise. Rising job losses and prolonged unemployment are major factors contributing to the foreclosure crisis. More than 61,000 homeowners are facing foreclosure, an increase of 23 percent since 2009.  And despite efforts to slow the wave of foreclosures, most experts fear that the problem is worsening. The foreclosure prevention programs have proven ineffective …

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… first quarter in 45 of the country’s 50 largest metropolitan areas, including Dallas and Fort Worth.”

Due to a massive amount of foreclosures hitting regions that have traditionally had very expensive housing, cities such as Riverside, Calif., Miami, and Los Angeles, all have a 99.9 percent likelihood of seeing lower home prices in the next two years. Foreclosure is the primary cause of home price declines and Dallas-Fort Worth alone has seen the number of foreclosures increase by …

Category: Dallas Bankruptcy , Foreclosures , Fort Worth Bankruptcy

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According to an article in the Dallas Morning News nearly every Dallas- Fort Worth neighborhood has been hit by the foreclosure crisis. But the largest numbers of foreclosures seen in the first six months of this year were in ZIP codes 75115 – which includes most of DeSoto – and 75052, Grand Prairie. Many of these homes are located subdivisions where people who purchased homes cheaply now cannot afford the daily commute because of skyrocketing fuel prices and …

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… contractions.  Sales tax revenue has declined a full 15 percent statewide, 17 percent in Fort Worth with Dallas fairing a little better at a 5.3 percent decline.  An unrelenting string of job losses, elevated long-term unemployment and increased vulnerability to foreclosure have caused many consumers to spend more cautiously than many economists had expected.

Many analysts fear that the pronouncements that the recession is ending are premature and not in line with reality.  While …

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According to an article in the Dallas Morning News, some advocates for Dallas- Fort Worth ’s low-wage workers accused the Texas Workforce Commission of stalling a payout of 13 additional weeks of unemployment benefits to workers who have been unemployed for more than a year. The Texas Workforce Commission claims that they must indefinitely delay unemployment benefit extension checks due to technical problems and their inability to adhere to federal rules regarding the …

Category: Foreclosures , Fort Worth Attorney , Unemployment - Job Loss

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