By STEVE BROWN email@example.com
Real Estate Editor
Published: 29 December 2014 09:54 PM
Updated: 29 December 2014 10:07 PM
Fewer North Texans are facing the prospect of home foreclosure in the start of the new year.
January foreclosure filings are down almost 20 percent from a year ago, according to the latest data from Foreclosure Listing Service.
Lenders have scheduled 1,676 properties for forced sale in the four-county area, the Addison-based foreclosure tracking firm reports.
The year-over-year decline in home foreclosure postings follows a trend that began more than a year ago.
January’s foreclosure filings were up from December and were the highest one-month total since early in 2014.
But compared with recent years, the rate of home foreclosures in the Dallas-Fort Worth area is dramatically lower.
For all of 2014, home foreclosure filings in the D-FW area were down 26 percent to the lowest level in 13 years.
Looking at January’s postings, the biggest declines from 2014 levels were in Denton County, down 31 percent, and Tarrant County, down 20 percent.
Foreclosure filings were down 18 percent in Collin County from January 2014 and down 16 percent in Dallas County.
Not all homes scheduled for foreclosure each month actually sell at auction. Many times the foreclosure is delayed while the borrower and lenders negotiate or reach other agreements.
Also, many lenders now prefer to handle distressed properties with short sales or other negotiated settlements rather than take the property through foreclosure.