Dallas- April Foreclosures up 18%
By Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator
(Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com)
The list for April's foreclosures has just been tallied and the DFW market is up 18% for April compared to April last year. For the year, foreclosures are up 15%. The main counties break down as follows:Dallas- 11%- up 1597Collin- 40%- up 456Denton- 20%- up 333Tarrant- 20%- up 1066Rockwall- 29%- up 63The main reason for this many foreclosures in the Dallas market is the amount of adjustable rate mortgages that are starting to adjust. Two and three years ago, people were getting ARMs where the rate for those first couple of years were fixed. In their head, they're not realizing what that really means after it's not fixed anymore. I work hard at explaining these loans to my clients, as best I can without being a mortgage person, so none of my buyers have ever been in a foreclosure si...
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