The Dallas Morning News is reporting that the number of Dallas-area home foreclosures continues to fall. In February 2013, 1.2 percent of homes were in foreclosure, which was down from a year ago. The report estimates that approximately 11,100 homes have gone through foreclosure in the past year. For the first few months of 2013, the number of foreclosure filings (which does not necessarily equate to foreclosures completed) is almost 50 percent lower than the same period one year ago.
As a foreclosure defense attorney, I’m thrilled to see these numbers. I would imagine that the biggest reason for the decrease is an improving economy and lower unemployment. But I am hopeful that at least some of this decrease can be attributed to lenders finally “getting it” and working with homeowners. I have been calling out the big banks for years–in court, on this blog, and to their face. I’ve been fighting them tooth and nail on behalf of homeowners. And I know I’m not alone. It seems to be having some effect.
Nevertheless, the overall statistics and trends don’t matter much if your home happens to be in that 1.2 percent (or whatever percentage is applicable at any given time). For that homeowner, the only number that matters is 1–you. If keeping your home is important, I would encourage you to fight. Stand up to the bank and don’t be railroaded into a foreclosure.