Foreclosure Listing Service Inc. (FLS), which tracks residential foreclosure filings in Texas’ metro areas of San Antonio and Austin and counties of Bastrop, Bell, Comal, Guadalupe, Hays, Travis and Williams, said that postings increased by 25 percent in 2008.
The 25 percent increased represented nearly 25,000 homeowners in Texas’ nine counties who are facing the threat of losing their homes.
George Roddy, president of FLS, said that foreclosure notices have started to pick up after a three-year hiatus. He cited 951 filings on real property in Hays County in 2008, a 9 percent increase from 871 filings in 2007.
He pointed out that for five consecutive quarters, Hays County’s quarterly filing activity has surpassed 200 notices every quarter. He added that fourth quarter foreclosure auctions showed 239 postings, a 7 percent rise from the 224 notices for the same quarter of the previous year.
Hays’ postings of 259 in the second half of 2008 was the highest since the 270 reported in the same quarter of 2005.
Meanwhile, filings for seven consecutive months of 2008 reached 80 or more, according to Roddy. The biggest number of filings occurred in May which was 89.
On the other hand, the highest filing rate on record in Hays was 113 which happened in July and August 2004.
In December, nearly 70 homeowners are scheduled to lose their homes, a 9 percent decline from the 77 filed in the same month a year ago.
Roddy noted that monthly foreclosure posting activity declined by 21 percent from 89 filings for a November auction.
The biggest increase in monthly foreclosure postings occurred in Travis County by 48 percent. The county also topped in the number of postings in fourth quarter by 55 percent. Bell County has the highest foreclosure posting increase with 34 percent over 2007.
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