Colorado foreclosure filings rose in the second quarter, but the rate of increase is moderating, according to a report today from the Colorado Division of Housing.
“We are hoping 2008 will be the high,” said division spokesman Ryan McMaken. “If the economy proves to be a real problem, it could string things out a little longer.”
For the second quarter of 2008, Colorado public trustees reported 10,875 foreclosures, up from the 10,017 filings during the second quarter of 2007 but down from the 11,630 filed in the first quarter.
For the first half of this year, Colorado foreclosure starts are up 16 percent from the same period last year. That contrasts with 30 to 40 percent year-over-year increases measured last year.
Foreclosures actually declined in Denver, Adams and Pueblo counties in the second quarter, while they accelerated sharply in El Paso, Douglas and Summit counties.
Adams County remains the hardest hit area in the state, with one foreclosure filing for every 44 households in the first half of the year.
Weld County was not far behind, with a foreclosure rate of 1 out of 52. Arapahoe County had the third-highest rate at 1 in 60.
Aldo Svaldi: 303-954-1410 or asvaldi@denverpost.com
