Foreclosure prevention efforts continue in Texas metro areas
AbstractAlthough the level of seriously delinquent mortgages in Texas is slightly improved from one year ago (see the accompanying article), such mortgages are still at very high levels in the metro areas. For example, over 30,000 households are at least 90 days delinquent on their mortgage in the four-county Dallas–Fort Worth metro area as of December 2010. This is a rate of one out of every 22 mortgages reported. To address this issue, local coalitions and the Texas Foreclosure Prevention Task Force (TFPTF) continue their efforts to connect at-risk homeowners with free, nonprofit housing counseling approved by the Department of Housing and Urban Development (HUD). Counselors can help borrowers evaluate their situation and understand the various remedies available to preserve homeownership. The TFPTF also works to support those counselors with funding, specialized training, marketing and outreach services.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Dallas in its journal E-perspectives.
Volume (Year): (2011)
Issue (Month): ()
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