News - Local
Colorado foreclosures hit record in third quarter
Posted: Nov 19, 2009 12:14 PM by Bea Karnes
In spite of federal and state programs aimed at preventing foreclosures, and in spite declarations from the federal government that the recession is over--Colorado had a record number of new foreclosures in the third quarter, when new filings hit 12,468.
The quarter ending Sept. 30 was the fourth consecutive quarter in which new foreclosure filings increased.
For the year so far, new foreclsoure filings in Colorado are up about 18 percent compared to the same period in 2008.
The glimmer of hope--there are fewer completed foreclosures this year. The 8 percent drop indicates that some homeowners behind on payments are able to get back on track and keep their homes.
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