Foreclosure Problems Continue In Colorado

By: Josh Earl Email
By: Josh Earl Email

Colorado's foreclosure rate continues to be one of the highest in the county. Foreclosures tracked by the state show that the number of people losing their homes have more than doubled since 2003.

Figures released by the Colorado Division of Housing show that between 2005 and 2006, foreclosures increased 31 percent from 21-thousand-782 to 28-thousand-435. That's up from 13-thousand-575 in 2003.

However, the numbers themselves may not be as bad as they look. The state agency says not all of the reported foreclosures actually go all the way through the process. Part of the discrepancy is how the data is analyzed. Officials say only a portion of foreclosures opened actually make it to the foreclosure sale.

The state examined data from Public Trustees and is lower than a widely cited report by a private firm that estimated foreclosures were up 85 percent since 2005.

If you are going through a foreclosure or are on the verge of doing so, you can get help by calling the states foreclosure hot line.

That number is 1-877-601-HOPE or 1-877-601-4673

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