Hundreds of Buyers Flock to Buy Foreclosures

1,500 foreclosures sold in Tarrant County

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    NEWSLETTERS

    Hundreds huddled outside the Tarrant County Courthouse Tuesday looking to bid on foreclosed properties, but while some are looking to make a profit, one man was looking for a second chance.

    Hundreds of people looking to buy cheap property huddled outside the old Tarrant County Courthouse on Tuesday.

    The foreclosure sale takes place the first Tuesday of every month and is mostly filled with business people looking to make a profit.

    But Ron Patterson, of Richland Hills, spent $10,000 to buy his home back.

    “It’s nerve-racking," he said. "There’s no place you don’t know where to go. When you come up here, there’s no sign telling you who to find or what."

    “There’s no telling," Patterson said. "There are so many auctioneers. I don’t know who was selling it. There were so many auctioneers, you can’t get to them."

    He worked the crowds of people asking who to talk to and eventually found the right woman.

    “[I] tell you, I feel lucky, real lucky," he said. "There are a lot of houses over there for sale."

    Patterson said he fell behind on paying his mortgage after a pay cut and reduced overtime.

    “One thing led to another, and I kept having one catastrophe after another, and it just beat me down,” he said.

    The county auctioned off 1,500 business and personal foreclosures in six hours.