Pelley Law Office LLP
Dallas Office
Plano Office
Sherman Office
214-733-1775
972-608-0335
903-813-4778

No Charge For Initial Consultation ($250 value)

Menu Contact

Over 80 Years Of Combined Experience

View Our Practice Areas

Dallas-area foreclosure trend appears headed downward

Getting behind on the mortgage isn't something anyone looks to do. Unfortunately, the ebb and flow of the economic tide isn't something any of us has any control over, and an unexpected shift in personal circumstances can leave a family struggling suddenly to get by day to day.

Foreclosure can become a possibility, but it doesn't have to be a foregone conclusion. Consulting early with an attorney can provide information about options that may stave off foreclosure or repossession. Among those options may be personal bankruptcy. By consulting an attorney it's possible to assess all possible options to find the one that's right for a given circumstance.

If the rate of foreclosure filings for North Texas is any indication, it may be that we are entering into a period of relative calm. Data from Addison-based Foreclosure Listing Service shows that filings have fallen about 45 percent in the Dallas-Fort Worth area from where they were one year ago at this time.

The firm says that over the course of the first 10 months of 2013, the number of foreclosed homes put on the market by lenders sat at nearly 25,000. That's 40 percent lower than for the same 10-month period in 2012.

The shift in the housing market from decline to recovery has some experts saying that our area has achieved what might be called normalcy.

Real estate agents and other analysts attribute the decline in foreclosures to rising home prices. That and low lending rates have made it easier to sell homes or refinance existing mortgages. They say lenders have also been opting for short sales to unload underwater mortgages, rather than pushing matters to the point of foreclosure.

Source: DallasNews.com, "Dallas-area home foreclosures trending toward decade low," Steve Brown, Sept. 20, 2013

No Comments

Leave a comment
Comment Information

Awards & Recognition

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Office Locations

Plano office
Sherman office
Dallas office

Plano Office
1312 14th Street, Suite 100
Plano, Texas 75074

Phone: 972-608-0335
Map & Directions

Sherman Office
905 North Travis Street
Sherman, Texas 75090

Phone: 903-813-4778
Map & Directions

Dallas Office
6060 North Central Expressway, Suite 602
Dallas, Texas 75206

Phone: 214-733-1775
Map & Directions