Home foreclosures are falling in Dallas, but loan holders still need Help

Frustrated borrowers do not have to feel alone in their fight to keep their homes. The commercial real estate market may be booming, making Dallas a great place to call home for start-ups, big corporations, and energy giants. It has not kept Texas from trailing Florida and Arizona in the most number of foreclosures across the state. Many Texans simply need a reliable free source of information that they can tap and get the help they need to save their houses.

DALLAS – August 10, 2015 – Housing prices in Dallas have risen more than 10 percent, while some Dallas families continue to struggle to keep their homes. Frustrated borrowers do not need to feel alone in their fight to keep their houses. An organization called ‘Save My Texas Home’ has been helping Dallas residents hang onto their houses.

The number of foreclosures has dropped in Dallas to 38 percent since 2013. The number of foreclosure postings may be dropping, but Dallas families are still worried their homes may be next. Thanks to organizations such as Save My Texas Home, as many of 65,000 families have been able to been able to restructure their mortgages and save their homes.

The good news for people, who may be unemployed, is that Dallas has a thriving commercial real estate market. This means it is the ideal area for corporate businesses to move into the area and create much-needed jobs. It also creates an atmosphere in which companies invest and pump money into a state that has had one of the highest rates of foreclosures. Texas is still behind Florida and Arizona when it comes to the number of foreclosures.

Many borrowers may not realize that they have more options than simply to declare Chapter 7 or Chapter 13 bankruptcy. They may think that foreclosure is their only option. There are other options for struggling borrowers and organizations, such as Save My Texas Home are trying to inform frustrated borrowers.

Many borrowers, when they realize the average loan in foreclosure is $132,579, they may lose hope. They may not realize that they have alternatives to foreclosure and sometimes, banks will work with mortgage loan holders to refinance their existing mortgage. If this is not an option, Dallas residents should not panic. There are options that borrowers may not have considered, such as contacting a non-profit organization, such as Hope for Homeowners.

Before a borrower receives a second notice that they will be losing their house in a foreclosure auction, it is best to call a specialist at Save My Home Texas. A specialist can help a borrower find options they may not know they had. They also can help a loan holder to find contact information so they can get help from a number of government agencies or take advantage of a non-profit’s services. Some callers may only need some credit counseling; others may need to know how to take fast action in order to save their house.

Do you need help finding the right resources, Save My Texas Home can help. To speak with a specialist about your specific needs, call 512-271-5044 or fill out the form to get fast free help.

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