According to an article in the Dallas Morning News, the number of North Texas homeowners facing possible foreclosure grew in June. In June 4.5 percent of Dallas-Fort Worth homeowners were 90 days or more late with their mortgage payments. That’s an increase of 1.1 percentage points from a year ago.
The article said:
“During the last year, foreclosure filings in the Dallas area have occurred at the rate of about 177 a day and at a daily rate of about 90 in the Fort Worth area.”
Foreclosures are increasing in Dallas-Fort Worth and many homeowners are finding it difficult to save their homes despite the availability of foreclosure prevention programs. Many homeowners find that foreclosure prevention programs such as “Making Home Affordable” are often time-consuming and complicated in terms of contacting lenders and negotiating an agreement. Many of the homeowners facing foreclosure run out of time as their foreclosure closes in while they are attempting to navigate the foreclosure prevention programs.
What’s important for all homeowners facing foreclosure is to seek help as soon as you realize you are in financial trouble. And don’t only research just one of your options also consider foreclosure stopping remedies such as bankruptcy. Once you file bankruptcy, the court will immediately stop a lender from foreclosing on your home, giving you more time to figure out a reasonable solution.