We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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In Colorado, only 1.4 percent of all mortgages were in foreclosure in April. Missouri, Virginia, Montana and South Dakota also have 1.4 percent foreclosure inventories. Only North Dakota, Wyoming and Nebraska had lower rates.
The Denver metro area in April had the lowest rate of any metro in the country at 1.4 percent.
According to a report by Lender Processing Services, the percentage of non-current loans decreases faster in states with non-judicial foreclosures than states with judicial foreclosures. Colorado is a non-judicial foreclosure state, using a public trustee to process foreclosures.
A judicial foreclosure is required to be processed through a state’s court system.
The foreclosure inventory rate for the nation in April was 3.4 percent, down 0.1 percent from the previous April. This number approximates to 1.4 million homes. Florida had the highest rate in the nation at 12 percent.