Foreclosure Home Housing & Foreclosure Reports Colorado Foreclosure Activity Rises in January

Colorado Foreclosure Activity Rises in January

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Statewide filings up 21 percent from December

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 4,228 Colorado properties in January, a 21 percent increase from December, but still 15 percent below the level reported for January 2011, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Colorado had the ninth highest foreclosure rate, reporting one in every 523 Colorado housing units with a foreclosure filing in January.

Garfield County posts top foreclosure rate in the state for January
 One in every 109 housing units in Garfield County had a foreclosure filing in January — 5.7 times the national average and 4.8 times the state average — the highest foreclosure rate of all Colorado counties for the month. Weld County had the second highest rate of one in every 305 housing units with a foreclosure filing during the month — 2.1 times the national average and 1.7 times the state average. Adams County had the third highest rate of one in every 312 housing units with a foreclosure filing during the month — twice the national average and 1.7 times the state average.

Arapahoe County leads state in foreclosure activity in January
 Arapahoe County led all counties, reporting 543 properties with foreclosure filings for the month. El Paso County had the second highest total, reporting 529 properties with foreclosure filings. Adams County was third, reporting 523 properties with foreclosure filings. Fourth highest was Jefferson County, recording 402 properties with foreclosure filings. Denver County was fifth highest, tallying 371 properties with foreclosure filings for the month.

State a moderate contributor to total foreclosure activity in January
 Colorado accounted for 2 percent of the 210,941 properties with foreclosure filings reported nationwide in January. Total U.S. activity increased by 3 percent from December, but was still down over 19 percent from the level reported in January 2011. One in every 624 U.S. housing units received a foreclosure filing during the month.

“Although overall foreclosure activity was down from a year ago for the 16th straight month in January, we continue to see signs on a local and regional level that the frozen-up foreclosure process is beginning to thaw,” said Brandon Moore, CEO of RealtyTrac. “Foreclosure activity increased on a year-over-year basis for the first time in more than 12 months in Florida, Michigan, Indiana and Pennsylvania, following a pattern we saw in late 2011 in states such as California, Arizona and Massachusetts.

“We expect the pattern of increasing foreclosures to continue in the coming months, especially given the finalized mortgage and foreclosure settlement reached in early February between 49 state attorneys general and five of the nation’s largest lenders,” Moore continued. “The settlement sets forth clear guidelines for lenders and servicers to follow when foreclosing, which should allow them to push through some of the delayed foreclosures from last year. Other roadblocks to foreclosure are still in place at the state level, however, including legislation altering the foreclosure process and lawsuits against lenders. We expect to see somewhat uneven trends in local and regional foreclosure numbers going forward as lenders work through these additional legislative and legal roadblocks.”

 

Colorado Top Foreclosure Rates By County – January 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

n/a

n/a

Colorado

0

0

2,662

0

1,566

4,228

523

1.19

n/a

 

 

 

 

 

 

 

 

 

 

Garfield

0

0

151

0

63

214

109

5.73

4.81

Weld

0

0

168

0

148

316

305

2.05

1.72

Adams

0

0

306

0

217

523

312

2.00

1.68

Mesa

0

0

142

0

58

200

313

1.99

1.67

Montrose

0

0

29

0

18

47

388

1.61

1.35

 Colorado Top Foreclosure Totals by County – January 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg   Dec 11

% Chg   Jan 11

 

 

 

 

 

 

 

 

 

 

United States

24,531

33,831

62,260

23,777

66,542

210,941

624

2.89

-19.28

Colorado

0

0

2,662

0

1,566

4,228

523

20.87

-14.52

 

 

 

 

 

 

 

 

 

 

Arapahoe

0

0

348

0

195

543

439

31.16

-19.56

El Paso

0

0

313

0

216

529

478

-1.12

-8.32

Adams

0

0

306

0

217

523

312

21.63

-26.13

Jefferson

0

0

277

0

125

402

572

7.49

1.01

Denver

0

0

268

0

103

371

770

-7.48

-30.52

 


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