Rocky Mountain News: Colorado still in top 10 of foreclosures

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Colorado still in top 10 of foreclosures
By John Rebchook, Rocky Mountain News

Originally published 09:52 a.m., August 14, 2008
Updated 09:52 a.m., August 14, 2008



Colorado was ranked No. 8 in the nation for foreclosures in July, according to a report released today by Irvine, Calif.-based RealtyTrac.

Foreclosures filings in Colorado totaled 5,376 in July, a drop of 9.2 percent from July 2007 but a 10.2 percent increase from this past June, according to the report. One out of every 390 households in Colorado was in some stage of foreclosure, compared with the national average of one out of every 464.

Nationally, there were 272,171 foreclosure filings, a 55 percent increase from July 2007 and an 8 percent increase from June.

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Nevada continued to have the nation’s highest state foreclosure rate in July, with one in every 106 households receiving a foreclosure filing during the month. Foreclosure activity in Nevada was up 15 percent from the previous month and 97 percent from July 2007, pushing the total number of properties with foreclosure filings to over 10,000. Bank repossessions in Nevada were up 384 percent on a year-over-year basis, while default notices were up 59 percent and auction notices were up 31 percent.

The second-highest state foreclosure rate was in California, where one in every 182 properties received a foreclosure filing in July. Florida was third, at one in every 186.

Despite increasing foreclosure activity, Arizona’s foreclosure rate dropped from third highest in June to fourth in July. Foreclosure filings were reported on 13,350 Arizona properties during the month, a 3 percent increase from the previous month and a 127 percent increase from July 2007. One in every 195 Arizona properties received a foreclosure filing, a rate that was more than twice the national average. ......(more)

The complete piece is at: http://www.rockymountainnews.com/news/2008/aug/14/colorado-still-top-10-foreclosures/