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County reaches new record for foreclosures

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The filing deadline has passed for foreclosure postings to be filed at the Denton County courthouse for the upcoming foreclosure auctions on Tuesday, September 7th, so the numbers are in and they do not look good. 

For the third quarter of this year, 1,972 residential foreclosure postings have been filed on Denton County homes, which set a new quarterly record high for the county, according to Foreclosure Listing Service, Inc.

Third quarter postings jumped 13% from July to September, which is the biggest percentage gain among the four largest counties in North Texas.

September’s residential posting activity is up 23% in Denton County, with 696 properties listed.

For the past 12 successive quarters, Denton County postings have topped 1,000 per quarter and for the past 7 quarters in a row have exceeded 1,400 per quarter.

Although Denton County had the smallest volume of postings for the first nine months of this year with 5,619 notices filed, it had the highest percentage gain in posting activity over the last year with a 14% increase compared to the 4,920 postings filed for this same nine-month period in 2009.

And the news does not seem to be getting any better.

“I expect home foreclosure postings to remain on the high-end at least through the remainder of this year and into the early part of next year,” said Scott Roddy with Foreclosure Listing Service, Inc.

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