According to an article in the Dallas Morning News, Dallas-Fort Worth has experienced nearly 30,000 foreclosure filings since the beginning of 2009 and that's not expected to decrease anytime soon. For foreclosures scheduled for next moth Dallas County has the largest total with 2,150 foreclosure filings scheduled to take place in June.
The article said:
Counting June's scheduled foreclosures, the number of filings in the D-FW area for the first half of 2009 is up 14 percent from the same period last year.
And we're only half way through the year. Last year Dallas-Fort Worth experienced 50,000 foreclosures for the entire year, at this rate we may see an additional 10,000 foreclosures if things don't get better or worse. The interesting thing about these numbers is that they are coming out after all the hoopla about mortgage lender programs that were designed to encourage lenders to voluntarily modify the loans of homeowners facing foreclosure.
These programs were supposed to help millions or at least thousands of homeowners facing foreclosure; but all we see so far are more foreclosures. It's troubling to know that many homeowners are delaying or completely avoiding bankruptcy and losing their property to foreclosure. It's troubling because bankruptcy is designed to level the playing field for homeowners facing foreclosure.
Bankruptcy can stop foreclosure and help the borrower save their home. Don't allow your bankruptcy options to sit idle if you're facing foreclosure. Please contact a Dallas-Fort Worth bankruptcy attorney today so that you can save your home and avoid foreclosure.