Dallas Home Foreclosures

Dallas Fort Worth Foreclosure Listings

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Dallas-Fort Worth Foreclosed Homes

Dallas is the county seat of Dallas County Portions of the city extend into neighboring Collin, Denton, Kaufman, and Rockwall counties

According to the United States Census Bureau, the city has a total area of 385 square miles (997.1 km²)—342.5 square miles (887.1 km²) of it is land and 42.5 square miles (110.1 km²) of it (11.03%) is water. Dallas makes up one-fifth of the much larger urbanized area known as the Dallas/Fort Worth Metroplex—about a quarter of all Texans live in the Dallas/Fort Worth/Arlington metropolitan area.

Dallas, and its surrounding area, is mostly flat and lies at an elevation ranging from 450 feet (137 m) to 550 feet (168 m). The western edge of the Austin chalk formation, a limestone escarpment, rises 200 feet (61 m) and runs roughly north-south through Dallas County The uplift is particularly noticeable in the neighborhood of Oak Cliff and the adjacent cities of Cockrell Hill, Cedar Hill, Grand Prairie, and Irving. Marked variations in terrain are also found in cities immediately to the west in Tarrant County surrounding Fort Worth

The Trinity River is a major Texas waterway that passes from the city of Irving into west Dallas, where it is paralleled by Interstate 35E along the Stemmons Corridor, then flows alongside western downtown, and through and alongside south Dallas and Pleasant Grove, paralleled by Interstate 45, where it exits into unincorporated Dallas County and heads southeast to Houston. The river is flanked on both sides by 50 feet (15 m) tall earthen levees to protect the city from floods. The river has been treated much like a drainage ditch throughout Dallas's history, but as Dallas began shifting towards a postindustrial society, public outcry about a lack of aesthetic and recreational use for the river ultimately gave way to the Trinity River Project. The project, which began in the early 2000s and is scheduled to reach completion in the 2010s, will result in lakes, new park facilities and trails, and transportation improvements.

As a result, the Trinity River project area will reach for over 20 miles in length within the city and the overall geographical land area addressed by the Trinity River Land Use Plan is approximately 44,000 acres in size – about 20% of the land area in Dallas. Parks and the natural Great Trinity Forest will together encompass approximately 10,000 acres, making it one of the largest and diverse urban parks in the world.

Dallas Home Foreclosure

Foreclosure is the legal proceeding in which a bank or other secured creditor sells or repossesses a parcel of real property (immovable property) due to the owner's failure to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust". Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, it is typically said that "the lender has foreclosed its mortgage or lien."uot;

In the United States, there are two sorts of foreclosure in most common law states. Using a "deed in lieu of foreclosure," the bank claims the title and possession of the property back in full satisfaction of a debt, usually on contract. In the proceeding simply known as foreclosure (or, perhaps, distinguished as "judicial foreclosure"), the property is exposed to auction by the county sheriff or some other officer of the court. Many states require this latter sort of proceeding in some or all cases of foreclosure, in order to protect any equity the debtor may have in the property, in case the value of the debt being foreclosed on is substantially less than the market value of the immovable property (this also discourages strategic foreclosure). In this foreclosure, the sheriff then issues a deed to the winning bidder at auction. Banks and other institutional lenders typically bid in the amount of the owed debt at the sale, and if no other buyers step forward the lender receives title to the immovable property in return.

Other states have adopted non-judicial foreclosure procedures, in which the mortgagee, or more commonly the mortgagee's attorney or designated agent, gives the debtor a notice of default and the mortgagee's intent to sell the immovable property in a form prescribed by state statute. This type of foreclosure is commonly referred to as "statutory" or "non-judicial" foreclosure, as opposed to "judicial". With this "power-of-sale" type of foreclosure, if the debtor fails to cure the default, or use other lawful means (such as filing for bankruptcy which provides a temporary automatic stay to the foreclosure proceeding) to stop the sale, the mortgagee or its representative will conduct a public auction in a similar manner as the sheriff's auction described above. The highest bidder at the auction becomes the owner of the immovable property free and clear of any interest of the former owner but the property may be encumbered by any liens superior to the mortgage being foreclosed (e.g. a senior mortgage, unpaid property taxes etc). Further legal action, such as an eviction may be necessary to obtain possession of the premises.


"Strict foreclosure" is an equitable right available in some states. The strict foreclosure period arises after the foreclosure sale has taken place and is available to the foreclosure sale purchaser. The foreclosure sale purchaser must petition a court for a decree that will cut off any junior lienholder's rights to redeem the senior debt. If the junior lienholder fails to do so within the judicially established time frame, his lien is cancelled and the purchaser's title is cleared. This effect is the same as the strict foreclosure that occurred at common law in England's courts of equity as a response to the development of the equity of redemption.

In most jurisdictions it is customary for the foreclosing lender to obtain a title search of the immovable property and to notify all other persons who may have liens on the property, whether by judgment, by contract, or by statute or other law, so that they may appear and assert their interest in the foreclosure litigation. In all US jurisdictions a lender who conducts a foreclosure sale of immovable property which is the subject of a federal tax lien must give 25 days' notice of the sale to the Internal Revenue Service: failure to give notice to the IRS will result in the lien remaining attached to the immovable property after the sale. Therefore, it is imperative that the lender obtain a search of the local Federal Tax Liens so that if the persons or companies involved in the foreclosure have a federal tax lien filed against them, the proper notice to the IRS will be given. A detailed explanation by the IRS of the Federal Tax Lien process can be found here.

Some individuals and companies are engaged in the business of purchasing properties at foreclosure sales. A number of companies promoting themselves on the internet and in other advertising media have sprung up touting the profits that can be made buying properties in foreclosure. Purchasing properties in foreclosure can be more risky than some companies imply.