Posted on 06/04/2007 5:58:11 PM PDT by Dubya
Tarrant County foreclosures have risen at alarming rates in recent years, now hitting more than 1,000 a month in nine of the past 10 months.Tarrant County foreclosures have risen at alarming rates in recent years, now hitting more than 1,000 a month in nine of the past 10 months.Tarrant County foreclosures have risen at alarming rates in recent years, now hitting more than 1,000 a month in nine of the past 10 months.Tarrant County foreclosures have risen at alarming rates in recent years, now hitting more than 1,000 a month in nine of the past 10 months.
And they are ripping holes in the market in almost every part of Tarrant County. As figures released last week from the Foreclosure Listing Service indicate, most cities are still seeing the number of foreclosed properties increase. The figures measure the number of homes posted for foreclosure per city in the first halves of 2006 and 2007.
The most significant increases in and near Tarrant County were in Azle (118 percent), Highland Village (55 percent), Lake Worth (100 percent), Mansfield (196 percent) and Southlake (56 percent).
A few cities saw their foreclosures drop. Those include Dalworthington Gardens (33 percent), Everman (26 percent), Justin (47 percent), Pantego (67 percent) and Westworth Village (67 percent).
Still, the rising number of foreclosures has drawn the attention of local and federal officials.
Fort Worth Mayor Mike Moncrief and Arlington Mayor Robert Cluck will hold a news conference Wednesday to talk about foreclosure prevention.
On June 12, the Department of Housing and Urban Development and the Federal Reserve Bank in Dallas are having a summit on foreclosure issues.
Look out tax payers.
ping
ok. ok. ok?
Everything OK here in Manhattan. The biggest problem is finding a parking place for your Mercedes.
They must all be moving to Johnson county.
A subdivision for every green field.
Is there something wrong with this thread? Has Alzheimer’s set in?
Dirty little secret here - most of those foreclosures are to illegals or landlords renting to illegals (dormitory homes).
Most of the foreclosures in the home market in the North Texas (and Texas...and Nation) don’t have anything to do with illegals. Nor are the purchasers of the foreclosed properties using them to rent to multifamily illegal units.
Most are either sitting empty or being picked up by folks who will actually pay the bills...and now at a much lower cost.
Illegals cost us more money in other areas.
The foreclosures have more to do with things like ARMs. Too many people who had no business taking out home loans on their lousy credit are now facing what everybody knew they would face. They can’t pay the the bill...that everybody knew they could not pay to begin with.
Then add the utility districts (MUDs) to the picture. Appraisals were made on the land only, before the homes were built on the “custom build” sites. When the house was built, it raised the property value, and the property tax. Then, the MUD fees shocked a lot of those folks.
Now many will scream that the MUDs should be stopped. However, Counties have no power on that. They can only do what the State Legislature sets up for them...as they are governed reg wise by the State of Texas.
Add to that the reality that the many “small govt.” republicans are screaming that the State should step in on the MUDs (Can we say BIG GOVERNTMENT ACTION) and you have some real irony and humor.
The bottom line is...people should not buy things they can’t afford. People should do research and know what they are purchasing. It is not the State’s fault. It is not the Counties’ fault and it is not the MUDs’ fault. And it is not even the fault of those law breaking illegals (can we say criminals) who broke the law and drain our money in taxes in health care and education.
It is, in the end...and the start, the fault of the buyer who wanted something they could not afford.
Work...save...make gains. The real American way.
OH...and By the way...KICK THE ILLEGALS OUT! I know...nothing to do with the homes...but it needs to be said no matter what the subject.
Part of the problem is with the OUTRAGEOUS taxes those Texans agree to. You have to watch out buying a house, the payment is only part of what you have to pay. 75K might seem like a good price for a 3 bedroom, 2 bath house until you add in the $300 per month that taxes will cost. I am so glad to be out of (Johnson County) Texas!
What kills me is that, after we pay off the house, we'll still have about $400-500 a month payment for the rest of our lives. I really hate property taxes.
How many people own their own home in Manhattan? Isn't it like 90% rentals?
Property taxes are one of the reasons we left Texas. We got a MUCH bigger house in Colorado, with acreage, and taxes are now about $1200 per year. We noticed that every time the word started to get around in Texas that “there are no state income taxes” that taxes of another kind were about to go up.
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