Foreclosure rate still nation's highest
John Rebchook, Rocky Mountain News
Published November 17, 2006 at midnight
Colorado conintues to have the dubious distinction of having the nation's highest foreclosure rate, according to a national report released today.
For the eighth consecutive month Colorado had the nation’s highest state foreclosure rate — one new foreclosure filing for every 327 households, according to RealtyTrac, an Irvine, Calif.-based company that tracks foreclosures. RealtyTrac's analysis shows a 25 percent month-over-month increase in foreclosure activity in Colorado. Colorado reported reported 5,592 properties entering some stage of foreclosure during the month, more than twice the number reported in October 2005.
Some local experts questions the accuracy of RealtyTrac's numbers in Colorado, although they do not deny that the foreclosures crisis is a big and growing problem. RealtyTrac, however, stands by its numbers. It says that its data is as good as the information supplied by public trustee offices in Colorado.
Foreclosures, however, do not just plague Colorado. RealtyTrac
reports that 115,568 properties nationwide entered some stage of
foreclosure in October, the most reported in any month so far this year
and an increase of 42 percent from October 2005. The report also shows
a national foreclosure rate of one new foreclosure filing for every
1,001 U.S. households, the highest monthly foreclosure rate reported so
far this year.
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