Southeast Texas is beginning to see a slight increase in home foreclosures.

Across the nation we've seen very discouraging news, and so far our area has been largely insulated from the mortgage banking crisis elsewhere.
Still, as Brian Burns reports, the foreclosure news may not be as bad as it sounds.

First American CoreLogic says there has been a point one percent increase in the number of foreclosures in the Beaumont - Port Arthur market from August of last year to August of this year.

From .60 in 2007 to .70 this year.

Jefferson County clerk Carolyn Guidry says the number of foreclosure notices, which her office handles, has changed very little from last year.

While 840 foreclosure notices may seem like a lot, Guidry says the notices are a part of the normal banking procedure when people fall behind on mortgage payments.

Guidry says it doesn't mean that there *were* that many foreclosures.

Local realtors say the statistics actually show the good health of the Texas banking industry.

Another realtor says a new 7500 dollar tax credit is easing fears for first time homebuyers.