Foreclosure crisis hits areas of North Texas harder

June 19, 2008

The news abounds with stories on the foreclosure crisis. Between May 2007 and 2008, foreclosures have risen 48%. Texas remains steady at #17 in the nation for foreclosures. Though this may seem encouraging to some, for the thousands of North Texans, the threat of foreclosure is an immediate concern. Economists have yet to see the end of the foreclosure spiral.

In 2008, 29,000 of the 32,000 Texas foreclosures were in the 10 county area surrounding Dallas/Fort Worth. In July 2008, Dallas County showed a decrease by 4% in foreclosures, while Tarrant County reported a 3% increase from June 2008. However, in looking at the overall year, foreclosures are up 22% in Dallas County and 38% in Tarrant County. This places Tarrant County as one of the 7 out of 10 counties in the North Texas area showing a 25% or more year-to-date rise in foreclosures. Other counties include Rockwall, Denton, and Kaufman.

Foreclosure doesn’t have to happen. Bankruptcy can save homes from foreclosure. By filing bankruptcy, foreclosure proceedings are immediately halted where they are by Automatic Stay Protection.

Under Chapter 7 bankruptcy, Automatic Stay protection is temporary until your case is discharged, but if you’re able to keep current on the mortgage with discharge, you can keep your house. However, it also gives you the time to decide if you should keep the house or sell. Under Chapter 13 bankruptcy, Automatic Stay protection runs the length of the repayment plan. It can help you catch up and keep the equity in your home.

You don’t have to face foreclosure alone. Bankruptcy is an economic decision. You have options. The experienced bankruptcy lawyers at Higgins and Associates have helped thousands of North Texans stop foreclosure and file their bankruptcy cases. You don’t have to lose your home. Let the Higgins and Associates bankruptcy attorneys evaluate your case for free.

Foreclosure seminar being held Wednesday, June 18 in Fort Worth

June 18, 2008

The Fort Worth Star Telegram announced a foreclosure fair today in Fort Worth. The full announcement is here.

Homeowners facing possible foreclosure can get help at a Homeownership and Foreclosure Prevention Fair set for 5-8 p.m. today at Texas Wesleyan University Pavilion, 1201 Wesleyan St. in Fort Worth.

If you are one of many Fort Worth residents facing foreclosure, it’s important to get all the information available. Filing bankruptcy is an important option for stopping foreclosure. Bankruptcy attorneys are available to discuss your unique financial situation and if bankruptcy can save your home from foreclosure.

Fort Worth neighborhood faces more foreclosure

June 16, 2008

The quiet neighborhood, where residents say homeownership is as much a dead end as the cul-de-sacs at each end of the street, is at the heart of the subprime-mortgage crisis.More than half of the 56 homes on Ronay Drive have been posted for foreclosure at least once since August 2005, and eight are scheduled for foreclosure in July. Nine others are now for sale.

From the Fort Worth Star Telegram, 6/15/2008

In this Forest Hill neighborhood, CasAlegria Finance out of Houston has enticed neighbors with the promise of homeownership, only to become part of the foreclosure crisis. This company is now under state investigation for their business practices. However, that doesn’t help the residents of this neighborhood keep their homes.

There are options for many people. Bankruptcy stops foreclosure. Talk with a bankruptcy attorney today about your financial situation. You don’t have to lose your home.

Arlington Convention Center to Host Foreclosure Information Event

June 9, 2008

The Arlington Convention Center will house a free event to educate homeowners on foreclosure today, Monday, June 9, 2008 in Arlington, TX.

An event is scheduled today to help homeowners avoid foreclosure. The free Homeownership Preservation Event will be from 2 to 8 p.m. in the ballroom of the Arlington Convention Center, 1200 Ballpark Way.

The rest of the story, including dates and times for other similar events around the region can be found here.

Information is a powerful tool in dealing with foreclosure. If you have further questions regarding foreclosure, speak with a qualified bankruptcy attorney for further options to stop your foreclosure and save your home.

U.S. foreclosures set first quarter records

June 5, 2008

For the first six months of 2008, foreclosure postings in the Dallas-Fort Worth area were up 20 percent from the same period last year, according to statistics from Foreclosure Listing Service Inc. of Addison.

More than 25,000 North Texas homes have been faced with foreclosure so far this year.

Read the rest of the story here.

Foreclosures are epidemic across the country, and we’re feeling it here close to home. With adjustable rate mortgages resetting interest rates, soaring gas prices, and many companies laying employees off, many North Texans face financial disaster through no fault of their own.

Bankruptcy may be a way to create a fresh start and save your home. If you are facing foreclosure, speak with a bankruptcy lawyer today to discuss your options.

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