Zombie foreclosures plague neighborhoods in some cities, but not in Denver. Out of the 1.6 million residential properties in Colorado, only 85 are considered to be zombie foreclosures. What is a zombie foreclosure? It means the home is vacant, the legal process has started, but the bank has not yet repossessed the home. Nationally, about 20,000 U.S. […]
Foreclosures: Colorado Contrasting the Nation
November 17, 2015 by Leave a Comment
According to RealtyTrac’s latest Foreclosure Market Report for Colorado, one in every 733 houses are in foreclosure, a 15 percent decrease from the same time last year. Colorado had a 17 percent decrease in the number of foreclosure filings (the first stage of the foreclosure process) from the second quarter of 2015 and a 15 percent decrease […]
Spike in Foreclosures
April 10, 2015 by Leave a Comment
According to RealtyTrac’s monthly foreclosure market report, foreclosure filings in Colorado jumped 65 percent in January from December, but were down 4 percent from January 2014. Why the huge spike? RealtyTrac attributed it to improved data collection methods, saying it had added a secondary data aggregator that likely added more filings that the primary source […]
Foreclosure Filings Down After Recent Spike
November 19, 2014 by Leave a Comment
According to RealtyTrac, Foreclosures in Colorado continued trending downward in October, after the state experienced a spike in foreclosure filings in the third quarter. The state had 653 properties with a foreclosure filing in October, down 37.5 percent from September and 56.8 percent from October of last year. The state experienced a 57 percent increase […]
Two Positive Foreclosure Prevention Bills
April 23, 2014 by Leave a Comment
A pair of bills meant to help homeowners avoid foreclosure passed in the Colorado House. What would these bills change? HB14-1295: 1. Prohibits “dual tracking,” in which a lender negotiates with a borrower while simultaneously pursuing foreclosure. 2. Requires a lender to establish a single point of contact for the borrower to communicated with the […]
Third in the Nation for Falling Foreclosure Percentages
April 7, 2014 by Leave a Comment
Nationally, foreclosures are down 32.71 percent, however, here in Colorado the number of residential foreclosures last month fell by an incredible 76.31 percent from a year ago. RealityTrac counted 290 foreclosure sales in the state during February, which places Colorado in third place – behind Vermont and South Dakota – for the largest year-over-year percentage […]
Waiting Periods Waived
September 30, 2013 by Leave a Comment
The Great Recession that started in late 2007 forced many responsible Colorado homeowners into mortgage loan default and/or bankruptcy. Because of this, the Federal Housing Authority (FHA) realized that credit histories don’t always reflect a person’s true ability or willingness to pay on a mortgage, and on August 15, 2013, announced its shortening of the […]
Pre-Recession Levels
August 2, 2013 by Leave a Comment
Denver home prices have officially risen to pre-recession levels with a 9 percent year-over-year increase during the second quarter. June brought 9,187 homes for sale, up from the 8,214 available in May, with sales increasing 3 percent from May and 7 percent from June 2012. It is true that interest rates have slightly increased, but […]
Falling Foreclosure Rates Prove A Stabilizing Market
May 22, 2013 by Leave a Comment
“The decline in foreclosures has been a statewide phenomenon so far this year,” said McMaken, an economist with the Colorado Division of Housing. Both foreclosure filing totals and foreclosure auction sales totals were the lowest quarterly totals collected in any quarter since the Division of Housing began tracking quarterly totals in 2007. Foreclosure sales occur […]