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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Taki who wrote (130034)	3/19/2004 12:37:06 PM
From: dkgross	Read Replies (1) \| Respond to of 150070

you rock. I REALLY have to start paying more attention...

To: Taki who wrote (130034)	3/19/2004 1:38:54 PM
From: Taki	Read Replies (1) \| Respond to of 150070

GBLL.03.Article Related.Damn, this thing maybe go huge one day, with their new software to be released. STAR-TELEGRAM RESIDENTIAL FORECLOSERS IN TARRANT COUNTY; APRIL FORECLOSURES IN TARRANT COUNTY The number of homes set for foreclosure auctions in Tarrant County has hit its highest level since the real estate crash of the late 1980s, a report released Thursday shows. There are 1,012 homes posted for foreclosure for the April 6 auction -- 47 percent more than for the same month a year ago and the highest monthly level in more than a decade. The foreclosures are 3.9 percent more than the previous record of 974 homes in January 2004, according to figures from the Foreclosure Listing Service in Addison. Some people who lost their jobs in recent years have gotten behind on mortgage payments and other bills and now risk losing their homes, said George Roddy Sr., president of the listing service. In some cases, first-time home buyers purchased properties with little or no money down and shoe-horned themselves into loans they could barely afford. And it's not just homes that cost $130,000 or less on the listings. "I'm seeing larger homes, more expensive homes. Homes in Grapevine and Southlake and upper-income areas," said Jim Brown, who runs All-American Title Services in North Richland Hills and has compiled the Tarrant County Foreclosure Report for 34 years. In recent months his lists have included homes worth as much as $5 million, he said. "I was alarmed at the number of foreclosures this month," Brown said. "I don't see any end to it." Some who watch the market expect foreclosures to remain high for at least the rest of the year. Foreclosures are a trailing indicator of job growth and other economic factors. As jobs return, it will take several months for those who are unemployed and underemployed to catch up with their delinquent payments, Roddy said. Between 38 percent and 43 percent of the postings will go into foreclosure, he said. Collin and Denton counties also set new monthly records for foreclosure postings. Collin County had 315 postings, up 29 percent from last April. Denton County had 283 postings, up 37 percent from the same time a year ago. Dallas County had 1,379 postings, up 20 percent from April 2003. Foreclosure experts say some of the increased listings are the effects of job cuts and salary reductions for managers who worked for companies such as American Airlines. Job losses may also have prevented some homeowners from refinancing their mortgages and getting smaller monthly payments, said David Brown, director of the Fort Worth-Dallas region for Metrostudy, which watches the housing market. Low interest rates also widened the pool of people who qualified for home loans but might have been financially unprepared for the responsibility of a home. "A certain percentage of those people did not need to get in that house," Roddy said. "They bit off more than they could chew." Pam Bookout, a broker at Coldwell Banker Residential Brokerage in south Arlington who specializes in selling foreclosed properties on behalf of banks, added that "there are a lot of foreclosures in the new home market, with these zero-down, get-in-by-the-skin-of-your-teeth type loans that we haven't seen before." The number of foreclosure postings, while high, is a small fraction in a market that has been selling more than 100,000 homes a year, said Metrostudy's David Brown. Ways to avoid a foreclosure • If you get behind on mortgage payments, contact your lender and discuss payment options. That may include providing details of your income and expenses. • Find a housing counseling agency. Visit www.hud.gov/offices/hsg/sfh/hcc/states/texas.txt or call (800) 569-4287. The agency can help you review options such as getting a temporary stop or reduction in mortgage payments and refinancing the mortgage with lower payments and a longer term. SOURCE: Department of Housing and Urban Development