Completed foreclosures in Colorado drop in 2009

DENVER – Completed foreclosures in Colorado in 2009 fell 4 percent from
2008 and have fallen 18 percent since 2007, according to a report from
the Department of Local Affairs’ Division of Housing released Thursday.

The report said there were 20,437 completed foreclosures in the state
in 2009. In 2008, the number was 21,306, and 25,056 in 2007.

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While completed foreclosures fell, new foreclosure filings, which begin
the process for borrowers, increased 18 percent in 2009, rising to
46,394 from 39,333 the previous year.

However, the report noted that despite an increase in new foreclosure
filings, the total proportion of filings that ended in a solution other
than foreclosure has increased by 51 percent since 2007.

Completed foreclosures in 2009 generally fell significantly in the
Denver metro area except for Boulder County, where they rose by 6
percent. Completed foreclosures also rose 4 percent in Weld County and
11 percent in El Paso County.

The full report is available at http://divisionofhousing.blogspot.com/.