Foreclosure filings rose to a record high in the Dallas/Fort Worth Metroplex as moratoriums imposed by lenders are ending.
A report in the Dallas Morning News states that over 5,500 homes face sale on courthouse steps across the area in May.
Experts tie the spike in foreclosures to the end of moratoriums at banks following the release of President Obama’s housing recovery plans.
The Treasury Department announced yesterday that 6 mortgage lenders would receive up to $10 billion to help troubled homeowners.
That help may come too late for some in the area. According to Foreclosure Listing Service of Addison, there have been 24,000 homes foreclosed on in Dallas, Tarrant, Denton and Collin counties since January. That number is up 11 percent over the same period in 2008.
