KKTV 11 News | Colorado Springs, Pueblo | News

CO Foreclosures

Foreclosure activity is up in most cities across the country -- according to a real-estate data firm -- and the Denver-Aurora metropolitan area is one place seeing the biggest increases.

California-based RealtyTrac says 318-thousand-355 properties in the United States entered some stage of foreclosure in the third quarter.

That's 17 percent higher than the previous three months.

In the Denver-Aurora area, the figure amounts to one in every 90 homes.

RealtyTrac executives say slower home sales and appreciation rates, and adjustable rate mortgages re-setting at higher monthly payments have put homeowners in financial distress.

Houston reported a 15 percent drop from the second quarter, and New York, a 13 percent decline.


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