Well, it finally appears that we have a momentary lapse in the downward trend of posting activity. As most of you know, a foreclosure posting is not the actual foreclosure, but the last warning to a homeowner that their property will be auctioned to the high bidder at the courthouse steps on the first Tuesday of the month if they don’t bring their mortgage payments current. Like I said, the posting activity actually increased for the May foreclosure auction over the April. The increase was small, but it could mean that we have reached the end of the slide and a leveling off period where foreclosures remain fairly static for a while before another directional change occurs one way or another. It is apparent that the small increase in posting activity has had no effect on the booming Texas real estate market.
Foreclosure Listing Service, Inc.