Report: Colorado No. 12 in January foreclosures

IRVINE, Calif. – Irvine-based RealtyTrac reported Colorado was No. 12 in the nation for foreclosure activity in January while foreclosure activity decreased across the U.S. by 10 percent from December levels.

Colorado was No. 11 in foreclosure activity in November. RealtyTrac did not issue a state-by-state report for December, but show Colorado No. 10 in the nation for all of 2009.

“January foreclosure numbers are exhibiting a pattern very similar to a year ago: a double-digit percentage jump in December foreclosure activity followed by a 10 percent drop in January,´ said James Saccacio, RealtyTrac CEO.

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“If history repeats itself, we will see a surge in the numbers over the next few months as lenders foreclose on delinquent loans where neither the existing loan modification programs or the new short-sale and deed-in-lieu-of-foreclosure alternatives works,” Saccacio said.

Nevada placed No. 1 on the January list, followed by Arizona, California, Florida and Utah as the top five states with highest foreclosure activity.