DFW foreclosures down 24 percent from Oct. 2013

DALLAS-FORT WORTH – DFW home foreclosure filings for October are down by almost 25 percent year-over-year, according to Foreclosure Listing Service.

Lenders have scheduled more than 1,500 homes for forced sale, compared to about 2000 properties in October 2013.

The decline in home foreclosure postings for next month continues a long trend of fewer problem residential loans.

So far in 2014, home foreclosure filings for North Texas are running more than a third behind where they were for the first ten months of 2013, according to the Addison-based firm.

DFW home foreclosures peaked in 2010 when almost 64,000 homes were posted for forced sale. Through the first ten months of 2014, 15,564 homes have been scheduled for foreclosure.

Not all homes scheduled for foreclosure each month actually sell at auction. Many times the foreclosure is delayed while the borrower and lenders negotiate or reach other agreements.

For October’s foreclosure auction, the biggest decline in filings was in Denton County where 31 percent fewer postings were recorded than in October 2013. Filings in Collin County were down 30 percent, and were 24 percent lower in Tarrant County and 20 percent less in Dallas County.