STAFF REPORT
Federal Reserve Chairman Ben Bernanke may say the recession is over, but the Hays County foreclosures listing has yet to get the memo.
Hays County recorded 146 foreclosure listings for the upcoming October auction, an 80 percent increase from the 81 listings last October.
That’s the second-highest number since the Hays Free Press began maintaining foreclosure records seven years ago, topped only by the 150 listings from this July.
Year to date, the county has registered 1,240 foreclosure listings.
Since February, the county has seen skyrocketing levels of bank repossessions among residential and commercial properties. Many of the foreclosed homes are clustered among low-priced starter homes in the rapidly growing bedroom community of Kyle. But as the real estate market has faltered, high-dollar luxury developments such as La Ventana near Driftwood are also showing up on foreclosure listings.
A bank can initiate foreclosure proceedings when a property owner falls three months behind on mortgage payments.
Read more:
- Yet again, foreclosures reach record high 02/24/2010
- Record foreclosures affect mobile homes to mansions 11/19/2009
- Foreclosures on the decline in Hays County 05/5/2010
- Hays County Foreclosures reach record 06/24/2009
- Foreclosures still high in Hays County 03/31/2010
