The state of Texas is located in south central US. Today Texas foreclosure listings are haranguing the region. Dallas and Houston are its two cities and with a growing population all the indications are there of prosperity. Yet Texas foreclosure listings continues to worry economists and sociologists. Texas foreclosures is part of the national trend. Texas is cowboy land. The region is an admixture of arid land and rolling prairies. The weather has three main zones – humid subtropical, semi arid and arid. Texas has a predominantly white population with 84.14% being whites and 12.09% being Afro-Americans, followed by Native Americans, Hispanics and others.
Those browsing through Texas foreclosure listings should know that each state as separate foreclosure laws in US. Here Texas foreclosure listings are guided by the laws prevailing in Texas. Judicial as well as non-judicial foreclosures are available. The primary security instrument is a deed of trust and the timeline for Texas foreclosure listings is 60 days. Redemption is disallowed but deficiency judgments are allowed. Texas foreclosure listings are part of the foreclosure process when a court order has to be obtained when the mortgage deed does not include power of sale. Non-judicial foreclosure happens when such a clause is there.
Initially it was thought that Austin was immune to foreclosures. But here too Texas foreclosure listings rose by 14%. Texas foreclosure listings are the highest in four Central Texas counties where 2,080 houses are included in Texas foreclosure listings in the very first quarter of 2008. During the same quarter in 2007 there had been 1,820 Texas foreclosure listings. Thus the increase is by 3%. Williamson County ranked high in Texas foreclosure listings with a jump of 25% from last year. Already 700 houses are included in Texas foreclosure listings. In Travis the jump was by 13%. The picture in Hays County was slightly better with a rise of 10%. The best is Bastrop County where foreclosures were down by 10% – a remarkable feat considering the national trend.
North Texas surged ahead with 27% rise in foreclosures creating a record in Dallas-Fort Worth region. Over 13,000 houses were listed by the banks. The biggest rise is in Denton County with a sky jump of 42%. In Tarrant and Dallas county it is up by 28% and 25% respectively in comparison to the figures of the first quarter of 2007. Housing analysts are not optimistic about a change in the flow of the foreclosure tide.
