Area had fewer foreclosure filings in May

BOULDER – Foreclosure filings in Boulder and Broomfield counties dropped a combined 42.8 percent from April to May, according to a report released Wednesday by the Colorado Division of Housing.

Foreclosure filings dipped from 50 in April to 32 in May in Boulder County, while Broomfield’s count dropped from 13 to 4 for the same period.

Foreclosure filings represent the beginning of the foreclosure process, while foreclosure sales represent the completion of the process. Foreclosure sales also dropped sharply in Boulder and Broomfield counties.

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Foreclosure filings in Boulder County in May dropped 56.8 percent, from 74 to 32 when compared with May 2012, and Broomfield’s went from 24 to 4, an 83.3 percent drop, for the same time frame.

Year to date, Boulder County has had 206 foreclosure filings, down from 353 for the same period a year ago. Broomfield’s count has dropped from 99 to 58.

Broomfield and Boulder counties had the lowest rates of foreclosure sales per household on the 12-county list included in the data. Broomfield County had one foreclosure sale for every 10,980 households, while Boulder had one per 6,383 households. The worst rate came in Mesa County, where there was one foreclosure sale for every 940 households.

Statewide, foreclosure filings fell 50.5 percent year over year compared with May 2012. The state’s total of 1,113 in May marked the lowest number recorded during that month in any year since the Division of Housing began tracking monthly totals in 2007.