Foreclosure Activity in Texas Up in July

Statewide foreclosure filings up 13 percent from June

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 10,627 Texas properties in July, down 4 percent from June and 46 percent below the level reported for July 2010, according to the latest 2011 RealtyTrac® Foreclosure Market Report. The state had the 19th highest foreclosure rate nationally, reporting one in every 920 housing units receiving a foreclosure filing

 

California continues to lead the nation in total foreclosures by a wide margin, reporting 56,193 properties with foreclosure filings. Florida maintains the second highest total, with 22,377 properties with foreclosure filings. Third highest total was in Georgia, where 11,461 properties with foreclosure filings were reported. Michigan barely beat out Illinois for fourth highest total, reporting 10,894 properties with foreclosure filings compared to the 10,627 properties with foreclosure filings reported by Illinois. The remaining states in the nation’s top 10 foreclosure totals during July included Texas (10,571), Arizona (10,098), Nevada (9,930), Ohio (8,376) and Wisconsin (4,534).

 

Ellis County posts top foreclosure rate for July

Ellis posted the top county foreclosure rate in Texas for July, with one in every 289 housing units receiving a foreclosure filing — 3.2 times the state average. Parker County had the second highest rate for July, with one in every 403 housing units receiving a foreclosure filing — 2.3 times the state average. Hays County was third highest for July, with one in every 409 housing units receiving a foreclosure filing — 2.3 times the state average.

 

Harris County has top foreclosure total for July

Harris County had the highest total, reporting 1,985 properties with foreclosure filings for July. Dallas County was second highest, reporting 1,756 properties with foreclosure filings. Tarrant County came in third, tallying 961 properties with foreclosure filings. Fourth highest was Bexar County, where 797 properties with foreclosure filings were reported. Collin and Travis counties were fifth, each reporting 506 properties with foreclosure filings for July.

 

State the sixth largest contributor to nation’s foreclosure total in July

Texas accounted for 5 percent of the 212,764 properties with foreclosure filings reported nationwide in July. Total U.S. activity decreased 4 percent from June, and was down 35 percent from the level reported for July 2010. One in every 611 U.S. housing units received a foreclosure filing during July.

 

“July foreclosure activity dropped 35 percent from a year ago, marking the 10th straight month of year-over-year decreases in foreclosure activity and the lowest monthly total since November 2007,” said James J. Saccacio, chief executive officer of RealtyTrac. “This string of decreases was initially triggered by the robo-signing controversy back in October 2010, which forced lenders to substantially slow the pace of foreclosing, but the downward trend in foreclosure activity has now taken on a life of its own. It appears that the foreclosure processing delays, combined with the smorgasbord of national and state-level foreclosure prevention efforts — including loan modifications, lender-borrower mediations and mortgage payment assistance for the unemployed — may be allowing more distressed homeowners to stave off foreclosure. 

 

“Unfortunately, the falloff in foreclosures is not based on a robust recovery in the housing market but on short-term interventions and delays that will extend the current housing market woes into 2012 and beyond,” Saccacio continued. “A stabilizing economy and improving job market are the long-term keys to a housing market recovery.” 

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac‘s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

Texas Top Foreclosure Rates By County – July 2011

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

28,070

31,446

65,404

20,015

67,829

212,764

611

n/a

n/a

Texas

9

0

6,241

0

4,321

10,571

920

0.66

n/a

 

 

 

 

 

 

 

 

 

 

Ellis

0

0

118

0

63

181

289

2.11

3.18

Parker

0

0

49

0

49

98

403

1.52

2.28

Hays

0

0

82

0

48

130

409

1.49

2.25

Rockwall

0

0

32

0

27

59

447

1.37

2.06

Johnson

0

0

42

0

79

121

454

1.35

2.03

 

 

 

Texas Top Foreclosure Totals by County – July 2011

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg. June 11

% Chg. July 10

 

 

 

 

 

 

 

 

 

 

United States

28,070

31,446

65,404

20,015

67,829

212,764

611

-4.48

-34.58

Texas

9

0

6,241

0

4,321

10,571

920

13.22

-9.86

 

 

 

 

 

 

 

 

 

 

Harris

0

0

1,311

0

674

1,985

808

-8.61

-22.43

Dallas

0

0

1,172

0

584

1,756

545

103.24

-3.62

Tarrant

0

0

568

0

393

961

720

-3.80

-13.42

Bexar

0

0

460

0

337

797

776

8.29

-11.15

Collin

0

0

231

0

275

506

576

37.13

5.42

 

 

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