As in most areas of Texas and the United States, property foreclosure listings in Central Texas rose this year. The Foreclosure Listing Service, Inc., which tracks residential foreclosure listings in Texas’ metro areas of San Antonio and Austin and counties of Bastrop, Bell, Comal, Guadalupe, Hays, Travis and Williams, said that postings increased by 25 percent in 2008.

Travis, Hays, Williamson and Bastrop counties have a combined total of 9,008 foreclosure listings for the year. That equates to a 32.7 percent increase in foreclosures in Travis County and 30% increase in foreclosures in Williamson County when compared to December of last year. The foreclosure posting data are available for all of 2008 because the final auction is set for Dec. 2 and postings were completed two weeks ago. According to a recent article by Kirk Ladendorf in the Austin-American Statesman and Real Estate Investors, a San Antonio based company:”[t]he vast majority of foreclosures are homes that cost less than $200,000. But the December auction includes several high-end properties…” Hopefully the lower gas prices are helping some people with their mortgages and the December holiday season. But, for many, lower gas prices and even the recent gossip that the mortgage interest rate will be lowered to 4.5% isn’t enough.

If you are in foreclosure or proceedings seem imminent, there are options that will stop the foreclosure process

Consult an experienced bankruptcy and see whether a Chapter 13 Bankruptcy can protect your home. Under Chapter 13 bankruptcy, you will be allowed to combine any back house payments into the Chapter 13 payment plan. As long as you can continue to make your monthly mortgage payments and make timely payments on your Chapter 13 plan, you will get to stay in your home.

Both the Democratic and Republican presidential candidates have said recently that keeping more people facing foreclosure in their homes should be a top priority. But help from the federal government may come too late to save your home if you are already facing foreclosure.

Protecting your home from foreclosure is essential to your financial future. For many Americans, their home is the largest investment that they have. Hanging on to the equity you may have in your home is central to your future financial stability.

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