Colorado foreclosure filings fall 28 percent

DENVER – New foreclosure filings in the state fell 28.2 percent in the
first half of 2011 compared to the same period a year ago, according to a
report by the Colorado Division of Housing.

There were 15,348 filings during the first six months of this year compared to 21,369 in the first half of 2010.

Foreclosure sales at auction – the event that completes the foreclosure
process – also fell 13 percent this year compared to last year, the
report noted.

Foreclosure filings during the second quarter of 2011 fell to the
second-lowest quarterly total recorded since the state began tracking
quarterly totals in the first quarter of 2007.

Foreclosure filings have fallen 42 percent from 2009’s third quarter total when they peaked at more than 12,000.

“While some of the decrease in foreclosure activity is due to banks
processing foreclosures more slowly, there are also reasons to believe
that there are in fact fewer people actually getting behind on their
payments,´ said Ryan McMaken, Division of Housing spokesman.