With the end of federal housing foreclosure moratoriums put in place because of the pandemic, the number of Dallas-Fort Worth homes facing forced sale by lenders jumped 75% in the third quarter.
Lenders flagged 638 D-FW homes for foreclosure in the just-completed quarter, compared with only 141 foreclosure filings in the second quarter, according to the latest estimates by researchers at Attom Data Solutions.
Foreclosure postings in North Texas were up more than 55% from a year ago, when many homeowners sought mortgage payment delays as COVID-19 swept the country.
Even with the recent increases, D-FW home foreclosures are a tiny fraction of what they were in the Great Recession when thousands of loan default notices were filed in the area each month. And they are still significantly below pre-pandemic levels.
Most of the national foreclosure moratoriums are now over, and less than 3% of U.S. home loans are still in forbearance.
Nationwide foreclosure starts were up 68% in the quarter with 45,517 U.S. properties getting forced sale notices...
