ASPEN, Colo.—Garfield County officials say home foreclosures are on pace to hit 107 this year, compared with 81 last year.
Officials said this week the county has recorded 78 foreclosures in the first nine months of 2008.
This year’s total is likely to be below the 114 foreclosures in 2003 and the 121 in 2005.
Those were the highest since the oil shale bust of the early 1980s. Exxon closed a $5 billion shale project near the Garfield County town of Parachute in 1982, putting 2,200 people out of work. The county had 244 home foreclosures in 1985 and 164 in 1987.
Neighboring Pitkin County, home of the resort town of Aspen, has had 21 foreclosures this year. The 2007 total was 15 and the 2006 total was 24.
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Information from: Aspen Daily News,
