Despite a concerted effort to reduce the tide of people losing their homes, foreclosures in Colorado shot up 40 percent in 2007 compared to 2006, according to a count from the Colorado Division of Housing.
Public trustees in Colorado reported 39,915 foreclosures last year, including 10,955 in the fourth quarter. That is 11,400 more than the record set in 2006.
Statewide, one out of every 45 households entered foreclosure, which typically happens after a homeowner misses three consecutive payments on a mortgage.
Adams County reported the state’s highest foreclosure rate – one out of every 23 households.
Weld County reported one foreclosure for every 29 households, while Denver, Arapahoe and Pueblo counties all reported about one foreclosure for every 35 households.
The report also found that a smaller percentage of homeowners were able to avoid a forced auction of their property once they entered foreclosure.
There were 25,320 foreclosure sales last year, compared to 17,451 in 2006.
The foreclosure problem continues to remain concentrated along the Front Range, with the central mountain and West Slope seeing minimal home losses.
Aldo Svaldi: 303-954-1410 or asvaldi@denverpost.com
