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Rockwall County, Texas ranks number 59 of 100 counties in
the nation with the highest percentage of households
facing
foreclosure, according to data provided in RealtyTrac's August 2007
U.S. Foreclosure Market Report.
In August, 243,947 foreclosure filings were reported nationwide;
up 36 percent from the previous month and up 115 percent from August
2006. This is the highest number of foreclosure filings in a single
month that RealtyTrac has reported since it began issuing the
monthly report in January 2005.
The report also showed a national foreclosure rate of one
foreclosure filing for every 510 households for the month; the
highest national ratio ever issued by the foreclosure tracking
company.
For homeowners in Rockwall County the ratio is even more
alarming. One of every 212.53 households in the county is now facing
foreclosure.
Texas, Michigan and Georgia all reported more than 10,000
foreclosure filings for the month, documenting the fourth, fifth and
sixth highest state foreclosure totals respectively, followed by
Arizona, Colorado, Illinois and Nevada. Statewide, one of every 532
households in Texas was at some stage of foreclosure in August 2007
marking a 36.40 percent increase from the previous month and an
18.90 percent foreclosure rate increase over August 2006 figures.
With 22103 households and total foreclosure filings in August
reaching 104, Rockwall County is one of 8 counties in Texas to make
the national list for counties with the highest foreclosure rates.
Although it is unclear what may have caused foreclosure activity
in Rockwall County to spike, one thing is clear. The situation is a
national crises for homeowners with mortgages they can no longer
afford AND an unprecedented opportunity for investors and home
buyers.
The free commercial resources listed below can help you
protect your home, lower and even cancel your mortgage, or find a
new home at a price no one could have imagined just a few years ago. |
