State's foreclosure rate still tops in nation

Rocky Mountain News

Published October 30, 2006 at midnight

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For the second consecutive quarter, Colorado posted the highest foreclosure rate in the nation, RealtyTrac said today.

RealtyTrac, based in Irvine, Calif., said that in the third quarter Colorado had one new foreclosure filing for every 127 households — 2.9 times the national average.

"After declining almost 13 percent between the first and second quarter of the year, foreclosure activity in the state was back up 24 percent from the second to the third quarter, with 14,374 properties entering some stage of foreclosures — the eighth highest foreclosure total in the nation."

Some states have more foreclosures than Colorado, but also more households.

Some local experts are skeptical of RealtyTrac’s numbers, but the company, which sells foreclosure data, says it is not trying to make Colorado’s foreclosure problem worse than it is.

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