In the rising tide of foreclosure, the good news of homeowners in Dallas and other parts of North Texas is that there is a slowdown in the number of Dallas foreclosure homes. However, at the same time, analysts who have been tracking various home loan/mortgage defaults believe that people should not go by these temporary figures as the situation can change for the worse in the coming months. This is just an assumption!

June 2008 has been a fairly good month for Dallas homeowners as there has only been a 3 increase in foreclosure listings and there are less the Dallas bank owned homes up for sale. This rise is lesser than what Dallas has seen in the entire period of last year. George Roddy, president of Foreclosure Listing Service said that this is a welcome change but at the same time, he underlined his fear stating that it might just go up in the coming months.

In the first 6 months since January to June of 2008, the Dallas foreclosure listings showed an increase of 20 as in comparison to 2007. According to some of the industry experts, around 25,000 homes have been schedules for foreclosure in the coming months of 2008. Even if the statistics of June are taken into consideration then it can be seen that around 3,800 homes have gone for forced sale, which accounts for a 13 increase from May 2008. There are many more Dallas cheap homes that will be put up for auction in July. Experts believe that Collin County in Dallas Area is the worst hit as the foreclosure postings have gone up by 17 as compared to June 2007. On the other hand, Tarrant County has seen a dip of 1 in foreclosures while the rate of Dallas County foreclosure homes has been quite flat since last year.

Therefore, the fact of the matter is that there could be another increase in the rate or there could be many more dips but then that is for time to tell!

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