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Unlike most bankruptcy firms in the Dallas / Fort-Worth area, Allmand Law Firm, PLLC spends the time to understand the complete financial picture for every one of our clients. We provide resources, tools and advice to address the unique needs of North Texans.

Dallas-Fort Worth Foreclosures Skyrocket

Posted By Allmand Law Firm, PLLC || 24-Sep-2008

According to the Dallas Morning News, more than 42,000 Dallas-Fort Worth area homes have gone on the foreclosure auction block since January 2008, up more than 35% from 2007. This is a new record for Dallas-Fort Worth. But despite the rise in foreclosures, the market remains unstable with only 40% of the homes being sold after they go to auction.

Why Has There Been an Increase in Foreclosures?

There seems to be an unusual surge of homes going into foreclosure as we end out 2008. Why? Many people are experiencing multiple financial blows as the economy goes through major corrections in the housing and financial markets. Many individuals are experiencing job losses, resetting mortgage interest rates, causing them to fall behind on their debt payments and, sometimes, even their mortgage payments.

Because the housing market is soft, individuals, trying to sell their homes to stop the financial bleeding and restore cash flow, find that their homes sit on the market at a deep discounts. Unfortunately, at this point many of those struggling financially don't take any meaningful measures to fix their finances such as filing a Chapter 7 or Chapter 13 bankruptcy and eventually they succumb to foreclosure. That's the picture, it's not pretty; but it's the truth.

During these trying times, it’s important to get help. At Allmand Law Firm, PLLC, we offer free financial empowerment session, in which we can discuss the specifics of your case and determine what legal options are available to you.

Why Trust Allmand Law Firm PLLC?

  • Our founding attorney is a board certified bankruptcy specialist
  • Our work as a bankruptcy law firm has been nationally recognized
  • We offer clients over two decades of legal experience
  • We’ve helped tens of thousands of people with their financial matters

We are committed to our clients and their futures, and seeing our clients succeed is truly our greatest reward.

Call (214) 238-9608 and schedule and appointment today!

Categories: Foreclosures
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