Posted: Nov 23, 2009 9:01 PM by David Ortiviz
Updated: Nov 23, 2009 9:01 PM
Foreclosures seems to be happening more in certain parts of Pueblo. The four areas hit hardest are Minnequa, the East Side, Eagleridge and Northern Pueblo West. Over the past couple of years, 40% of the homes in these neighborhoods have gone into foreclosure.
Many people in those areas fell into one of three categories: unemployed, first time homebuyers or homeowners with a high interest rate loan.
"Just because an individual neighborhood has a high number of foreclosures doesn't necessarily mean that if someone moved into that area they'll be threatened with foreclosure also," said Chris Markuson, with Pueblo County GIS.
They say homebuyers should do their homework to find a trustworthy lender and avoid those high interest rate loans.