Sunday, September 25, 2022

Foreclosed homes on the rise

For the sixth time in history, Denton County foreclosure notices have reached above 600 per month, according to George Roddy, Sr., President of Foreclosure Listing Service, Inc.

For the upcoming auction on the first Tuesday in April, 677 foreclosure notices have been filed on Denton County homes, a 19% increase compared to one year ago when 567 notices were filed.

Monthly postings have been on the high side for some time now, Roddy said.

For the last 13 consecutive months, home posting activity in Denton County has exceeded 500 foreclosure notices per month. In six of those months, monthly posting activity surged even higher, reaching above 600. 

Then, last October, Denton County home postings reached a new record high with 710 foreclosure notices filed.

So far this year, 2,533 postings have been filed threatening foreclosure on homes in Denton County.  

Over the past year, home postings filed for the first four foreclosure auctions of the year have increased 24% compared to the 2,047 postings filed for the same period one year earlier.

Roddy added that over the past ten years, year-to-date home postings in Denton County have climbed 801% from the same period of time in 2000, when only 281 postings were filed on Denton County residences.

Overall, North Texas foreclosures have soared to a new record monthly high. 

For the upcoming April 6 auctions, 6,168 foreclosure notices have been filed, surpassing the previous monthly record high set in July of last year when 6,072 postings were recorded against area homes. 

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