According to an article in Biz Journals , despite national efforts and programs designed to stem the tide of foreclosures, Dallas-Fort Worth’s foreclosure postings rose 27 percent this month compared to last year. Basically, our voluntary foreclosure-prevention plans are not working as many had hoped they would.

Foreclosures continue to rise in Dallas-Fort Worth and nationwide as more homeowners face job losses , decreased credit access and difficulty selling their home once they realize they are facing foreclosure. All these factors combined with a mortgage industry that is not acting aggressively to help homeowners facing foreclosure is creating an environment where entire neighborhoods are being drowned in foreclosures which often sit empty after the homeowners are evicted.

We have giving the banking industry billions of dollars in bail out money; but still foreclosures rise. We have offered the banking industry guarantees of modified loans and most recently an agreement that the American taxpayer will purchase toxic mortgage “assets” off of the books of banks; but still foreclosures rise.

It is time for our legislators to take aggressive action to force the mortgage companies to modify clearly toxic loans by allowing modifications in bankruptcy. Bankruptcy is one of the most powerful tools that the American taxpayer possesses–we need to use it to stop this foreclosure crisis .