San Antonio (Bexar Co) foreclosures
George Roddy, Sr., President of Foreclosure Listing Service, Inc., announced “For the first time in five years, foreclosure posting activity for the year-to-date has declined in Bexar County.” “Last year, foreclosure notices for the first four auctions of the year reached a new record high for this foreclosure cycle with 6,000 postings. Over the past year, posting activity for this four-month period declined to 5,824 for the first four foreclosure auctions of this year, which includes January through the upcoming auctions in April,” the foreclosure researcher stated
The foreclosure analyst, who’s firm has been tracking foreclosure activity for more than four decades, remarked, “This is certainly welcome news. But, quite frankly, I believe that we are not out of the woods yet and will not be for some time to come. It remains a sad time for those families losing their homes to foreclosure; but, a great time of opportunity for investors and others buying homes in today’s market.”
Until a significant amount of workers begin to be re-employed, there is simply no reason for foreclosure postings to decline. Even re-employment in today’s market does not assure that a family’s bills will be paid because many workers are being hired at wages far lower than at their previous job,” Mr. Roddy remarked.
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