Relating to the collection of certain foreclosure data by the Texas Department of Housing and Community Affairs.
Once enacted, HB2224 would amend the Property Code by adding Section 51.0022 which outlines the process for this data collection. The county clerk is required to transmit the collected information to the Texas Department of Housing and Community Affairs within 30 days of receiving the report from the trustee or sheriff. This structuring is aimed at establishing a more systematic approach to monitoring foreclosures, which may provide policymakers with essential insights into housing trends and challenges within various regions of Texas.
House Bill 2224 relates to the collection of certain foreclosure data by the Texas Department of Housing and Community Affairs. The bill seeks to enhance the tracking and reporting of foreclosure sales within the state by mandating that trustees or sheriffs submit specific data to county clerks upon the completion of a foreclosure sale. This data will include whether the property in question is residential, as well as its zip code or census tract if such information is available.
While the bill generally aims to support better oversight of foreclosure activities, potential points of contention may arise regarding the feasibility of the data collection process and concerns about privacy. Stakeholders might debate the level of detail required in the forms to be submitted, as well as the state's capacity to effectively manage and analyze the information gathered without imposing excessive administrative burdens on local authorities. Nevertheless, proponents argue that this bill is vital for improving the state’s understanding of housing instability and trend analysis.