By Colleen Flaherty

Killeen Daily Herald

Killeen-Temple-Fort Hood foreclosure and mortgage delinquency rates fell slightly from January 2010 to January 2011 and remained significantly below their national counterparts, according to data released Wednesday by CoreLogic.

The California-based analytical firm compiles foreclosure and delinquency rates from proprietary and public sources.

January's local outstanding foreclosure rate was 1.08 percent, representing a 0.02 decrease from January 2010.

Killeen-Temple-Fort Hood's mortgage delinquency rate, representing the number of mortgages that haven't been paid in 90 days or more, dropped from 4.47 percent to 4.13 percent between January 2010 and 2011.

January's national foreclosure rate was 3.63 percent, down from 3.06 percent a year ago. The U.S. mortgage delinquency rate also fell over the same period, from 8.49 percent to 7.87 percent.

Fort Hood Association of Realtors executive officer Michael DeHart attributed Fort Hood's relatively low rate of foreclosures to Fort Hood.

"We're blessed to be next to the largest economic engine in Texas, and that's Fort Hood," he said. "We always have new people coming in needing a home and people leaving, needing to sell their home."

Due to the area's large military population, a majority of home loans are guaranteed by Veterans Affairs, DeHart said; such loans can be difficult to default on.

Currently, 264 Bell County homes are in foreclosure and 218 in pre-foreclosure, according to the online database

About 110 are in the immediate Killeen area, association member Jose Segarra said.

Texas' overall foreclosure rate rose slightly from January 2010 to January 2011, from 1.34 percent to 1.49 percent. Delinquency rates fell statewide from 5.69 percent to 5.03 percent.

CoreLogic spokesperson Lori Guyton said the firm often attributes Texas' relatively low foreclosure rates to its lack of a recent housing boom. The Lone Star State didn't see the development before the recession that many other states did, she said, and consequently Texas hasn't seen the same kind of bust.

Contact Colleen Flaherty at or (254) 501-7559. Follow her on Twitter at KDHfeatures.

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