DFW Foreclosure Activity Falls 12%

According to the Foreclosure Listing Service, the Metroplex’s foreclosure filings have fallen 12 percent, down from 5,553 filings at the April auction to 4,861 at the upcoming May auction. Filings have decreased 21 percent from the foreclosure peak in March, and Dallas County’s filings are 15 percent lower than they were in April 2009.

Of course, the large number of foreclosures still translates to heartache for thousands. George Roddy Sr., president of Foreclosure Listing Service Inc., understands the difficulty that many families are facing. “To be forced to leave your home is one of the most devastating moments in a family’s life, especially in the American society where we have so much pride in home ownership.”

Scott Norman, president-elect of the Texas Mortgage Bankers Association, remains rather optimistic about Texas’ stabilization and growth. He recently commented, “The mortgage market in Texas – I don’t think it’s an exaggeration – is the healthiest in the nation. We are in significantly better shape.”

Read more at bizjournals.com and dallasnews.com.