by JEN BIUNDO

For just the second time since December of 2008, Hays County has seen a decrease in foreclosure rates over the same month of the year prior, with home sales likely propped up by the $8,000 home-buyer’s credit that expired on April 30.

This month, 110 properties are listed for possible foreclosure auction on the steps of the county courthouse, the lowest number in 15 months. That’s a 12 percent decrease from the 125 properties listed for the May 2009 auction, and a 30 percent drop from last month’s 157 posted properties.

After the nation’s housing market crumbled in 2008, Hays County saw a sharp rise in foreclosures through 2009, and that rise continued in 2010, as homeowners in economic trouble found it impossible to find a buyer for their home before the bank moved in to repossess it.

Year to date, the county has seen 701 foreclosure listings, a 25 percent increase over the same period last year and a 68 percent increase over the 417 listings in the first five months of 2008.

A lending institution may initiate foreclosure proceedings when a property owner falls three months behind on their mortgage payment.