Foreclosures in Fort Worth surged in both the residential and commercial sectors in January. The residential foreclosure rate rose to 1.4 percent while the commercial default rate rose to 9 percent of all mortgaged commercial properties.
Filings for home foreclosures in Fort Worth surged in 2009, but actual foreclosures declined as more lenders delayed completing the foreclosure processes. Lenders made efforts to comply with modification programs and to cut down the costs of maintaining foreclosed properties.
Fort Worth home auctions revved up in the first months of this year, but the median home sales price held up and rose by 1.3 percent to $139,900 in February.
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