The Foreclosure Report

Four Texas Cities In Top Ten

Some foreclosure reports from Texas. "Four Texas cities are on a list of top 10 cities for foreclosures as foreclosure rates climb in Texas, and the Dallas/Fort Worth Metroplex is near the top. Home sales are big in Dallas/Fort Worth but so are foreclosures, at three times the national average."

"It seems the biggest problem is a lot of people believe they can afford the home of their choice, and they can't. 'I think what we're seeing in the foreclosure side is the fact that people have gotten into too much property,' foreclosure expert George Roddy said."

"Roddy said job loss isn't what's driving foreclosures now, the soaring cost of living is. 'The cost to air condition and heat your home has gone up, credit card minimum payments have doubled in some cases, and taxes have actually gone up,' he said."

"The issue of foreclosures is so touchy that people going through it are often too embarrassed to talk about it, but many people know someone who's faced it. 'Absolutely, I've got two colleagues that come to mind that are professional individuals, make a very good living,' homeowner Jack Lynch said."

"The Houston area saw rise in foreclosures in the second quarter, according to RealtyTrac. The Houston-Galveston-Brazoria area ranked sixth in the country for foreclosures. The region had a foreclosure for every 145 households."

"Austin-San Marcos ranked sixth, at just under 2.5 times the national average. San Antonio ranked 10th, with a little more than two times the national average of foreclosures. Austin and Houston ranked among the top 10 for the first time."

posted by Ben Jones @ 1:11 PM