Bexar County Foreclosure Filings Down 6 Percent for June
June 13, 2008
Written by By Aïssatou Sidimé from the Express News
Bexar County foreclosure filings dipped below 900 for the first time in five months, continuing a general trend of declines.
However, the July foreclosure auction postings still are above 2007 levels, according to two new reports.
Lenders filed to auction 872 properties in the Bexar County foreclosure auction set for July 1, according to Foreclosure Listing Service Inc.
That’s a 6 percent decline from the June auction postings.
Lenders filed to auction far fewer single-family residences, accounting for the bulk of the decline, according to data provided by San Antonio-based RexReport.com, which tracks foreclosure postings for investors.
Bexar County foreclosure postings have been down four of the past five months.
Similarly, foreclosure auction filings were down in six of the nine Central Texas counties, according to Foreclosure Listing Service Inc.
However, foreclosure experts said the reduction might be temporary since July usually sees a dip in filings.
“Most likely, this is due to the July Fourth Independence Day holiday occurring near the auction date, which leads to a number of trustees and others taking time off during that week,” George Roddy Sr., president of Dallas-based Foreclosure Listing Service Inc., said in an e-mail.
Roddy said he would want to see several more months of significant declines to feel assured that foreclosure filings had peaked.
Comparing year-over-year statistics, Texas foreclosures for July are up 40 percent from the 618 postings in July 2007, according to RexReport.com.
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