DFW Underwater Mortgages Decline

: Chris Lee Law Firm

  Filed under: Financial News

Housing markets around the country are beginning to show some signs of improvement, whether that be from a reduced number of foreclosures or seeing an actual gain in home values. The Fort Worth foreclosure market is one of several in Texas that is seeing a significant improvement in recent months, a positive sign for the local economy.

Receding Waters

CoreLogic released a report this week stating that Fort Worth and Arlington are two Dallas-Fort Worth cities seeing a decrease in the number of underwater properties. Mortgage debt rates in these two cities fell 3% in the second quarter; two full percentage points greater than the decrease seen in the first quarter of this year.

Overall, Texas’ housing market is doing well, with only 8.8% of borrowers underwater on their homes; compared to 22.3 % nationally. Many other Texas cities are also reporting a rise in home prices and lower levels of foreclosure inventory.

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