Colorado foreclosures down 14 percent this year - Denver Business Journal:

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Completed foreclosures fell 14 percentt in the first nine months of the year compared with the same periocdof 2007, according to a reporr by the . A total of 16,246 foreclosures were completed. Officiald are forecasting a 13 percent decline in foreclosures for allof 2008. “20066 and 2007 saw big increasesz in foreclosure filings of 30 and 40 so a 14 percent decrease so far this year makes us cautiouslyy optimistic aboutthe future,” said Kath Williams, director of the Coloradi Division of Housing, in a “There are still many reasons for concern, but this is good During the third quarter alone, there were 9 percenr fewer completed foreclosures — at 6,454 than in the same quarte r a year earlier.
However, foreclosures jumped 66 percenty from the second quarter to thethirr quarter. The data are skewed by recent changes inColoradoo law, including a measure that took effect on Jan. 1 that had the effecrt of largely suspending foreclosured sales during Marchand April. Another law that took effectf in August had the same impact on statisticas duringthat month, officials said. Boulder, Broomfield, Douglas, El Jefferson, and Larimer counties all reporteds increasesin foreclosures. El Paso had the biggest at 26 percent yearover year. Denvetr County reported the largest decrease, with foreclosured down 26 percent compared to the third quarter of 2007.
Foreclosures dropped 19 perceng in Adams County and 20 percent in Weld The report reaffirmed that high foreclosure ratea are seen mostly along the Front Rang e and ineastern Colorado. The highest rate during the thir d quarter was inAdams County, with one foreclosure for every 58 Denver County had one filing for every 73 Weld County one for every 74 and Pueblk County one for every 102. Counties in western Colorado experiencedr much lowerforeclosure rates. Mesa County reported one foreclosure filing for everhy756 households, and La Plata Count one for every 992 and Garfield Countt one for every 5,079.
Almost 4,000 households avoidedr foreclosure during 2008 with the help of the Colorado ForeclosureHotlinwe (1-877-601-HOPE), which has been in place for two and its member agencies, state officiale said. “If those 4,000 households had we’d be looking at an increasew instead of a decreasein foreclosures,” Williamzs said.