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North Texas Foreclosures Jumped 10%
Dallas, Texas Foreclosure News
Article Abstract: With foreclosures increasing nationwide, there is no surprise that foreclosures in Dallas and North Texas are also on the rise. Foreclosures have increased almost 10 percent since the same period in 2007. Recently the Federal Government announced an interest rate cut in hopes to stimulate a down housing market. Foreclosures in Texas however, are set to continue to increase at least well-into 2008. For the full Texas foreclosure article please continue reading:______________________
Bill Zeeble
DALLAS (2008-01-25) North Texas home foreclosures have jumped 10
percent over the past year, and keeps climbing. With recent mortgage
problems tied to bad sub-prime loans, the Federal Reserve this week
announced a 3-quarter point interest-rate drop. So the best local
mortgage rates are down to their lowest point in nearly 4 years.
Embattled
Countrywide - with a huge local office - is advertising lower interest
rates, hoping to drum up business. But Dallas Business Journal
Associate Editor Chad Watt says that really depends.
Chad Watt:
"If you have good credit and you've got a higher interest rate, they're
right. If you have bad credit and are close to foreclosure, this
doesn't help you very much"
Some economists expect the fed may drop interest rates yet again.
Article Source http://publicbroadcasting.net/kera/news.newsmain?action=article&ARTICLE_ID=1217908§ionID=1
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