Firm says Colo. foreclosure rate is fifth-highest
By John Rebchook, Rocky Mountain News (Contact)
Wednesday, May 14, 2008
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Colorado's foreclosure rate was the fifth-highest in the nation in April, California-based RealtyTrac reported today.
One in every 349 Colorado households received a foreclosure filing in April, nearly 1.5 times the national average, according to the Irvine-based company that tracks and sells foreclosure data nationwide.
Foreclosure activity in April was down nearly 3 percent from March but was 3 percent higher than in April 2007, according to the report.
Nevada had the nation's highest foreclosure rate, with one in every 146 households receiving a foreclosure notice last month.
Foreclosure experts in Colorado have long held that Realty- Trac's methods over-count the number of foreclosures filings in the state because Colorado is the only state that relies solely on the public trustee system. But they say it can be helpful as far as overall trends of foreclosure activity.
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May 15, 2008
9:35 a.m.
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gwats writes:
Anyone other than me notice that the foreclosure crisis has magically been moved to the back burner during this election cycle? If you're a homeowner in financial hot water on your Mortgage, you are on your own!
May 15, 2008
9:44 a.m.
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trepidation writes:
hey gwats...you may need to reference the recent legislation passed in the Colorado legislature, as well as the work of the Colorado Foreclosure Hotline. Also, if you're a homeowner in financial hotwater, why aren't you refinancing through the government initiated refi's for arms?
But maybe you just forgot all about that, right?