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Bank Foreclosures and List of Fannie Mae Homes to Set a Record for 2010

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By : John Cutts    99 or more times read
Housing market analysts are projecting foreclosure-related filings, including those associated with list of Fannie Mae homes and bank foreclosures, to be higher in 2010 than the previous year's total in some Texas areas; although they did claim that the difference will not be much.

Corpus Christi foreclosure listings and other distressed property listings in various communities of Texas continue to show rising numbers as the year reaches its end. One area of the state where foreclosure filings are expected to record a higher number than the previous year's record is Dallas-Fort Worth.

Foreclosed properties, including Texas foreclosed homes for sale, totaled 63,835 for the current year in the four-county region of Dallas-Fort Worth according to Foreclosure Listing Service (FLS). The figure represents a 4% difference over the 2009 total. In the whole North Texas region, foreclosed property postings jumped by 20% in 2010 compared with 2009 and are 17% higher than 2008 figures.

According to FLS, although the rate of increase in the number of bank foreclosures and list of Fannie Mae homes has slowed somewhat in the region, the numbers will remain high until 2011. The 2010 filings total already includes figures for December since postings for the last month of the year have already been posted.

In terms of increase in filings and in lists of foreclosure homes, Denton County recorded the highest. Denton had a 10% increase in total filings for 2010 when compared with the previous year. In contrast, Dallas County only recorded a 2% rise for the current year compared with last year's foreclosure-related filings total.

Housing experts have reported that the moratorium imposed by several lenders on the sale of foreclosed properties did not affect the foreclosure-related filings rates of the Dallas-Fort Worth region. In the coming December auction period, more than 6,000 housing units in the North Texas area are reportedly in danger of getting foreclosed.

The figure represents a 16% jump when compared with the same month of last year. December marks the third non-consecutive month that filings for bank foreclosures, list of Fannie Mae homes and other foreclosed property types have gone beyond 6,000 in 2010.

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