Mortgage Default Information

2010 proves to be record year for foreclosure filings in Dallas-Fort Worth

BUILDER Online |

In Brief...

Dallas-Fort Worth home foreclosure filings hit a record in 2010 -- but not by much. "The rate of increase has slowed, and it looks like 2010 is kind of the pivotal year as far as foreclosures here are concerned," said George Roddy, president of the Addison-based foreclosure-tracking firm. Roddy said it's too early to forecast the results of lenders' foreclosure problems and calls for government intervention in the process. That's slightly higher than the nationwide home loan delinquency rate, which was 9.39 percent in the third quarter. Late mortgage payment levels in Texas rose to 9.65 percent in the quarter but were slightly below where they were a year earlier, the mortgage industry group said. In the third quarter, 1.82 percent of Texas home loans were in foreclosure. "Texas was one of just 11 states to see its foreclosure rate below 2 percent," said Scott Norman, president of the Texas Mortgage Bankers Association.

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