Central Texas foreclosures soar

AUSTIN (KXAN) - The job market in central Texas may remain relatively stable, but the foreclosure picture remains bleak.

In the four-county Austin metro area there were 15,622 foreclosure postings in 2010, an all-time high up 10 percent from the previous year.

There were 8,550 postings in Travis County, shattering the previous record by 17 percent. There were 5,145 postings in Williamson County , up 14 percent from its previous high. Postings in Hays and Bastrop counties actually declined.

The good news is that only 25 percent to 40 percent of posted listings ever go on the auction block. That is because the homeowners' loans may be under review, the homeowners paid the delinquent mortgages, the homeowners declared bankruptcy -- which temporarily halts the foreclosure -- or the homeowners may have sold their houses and paid off the loans.