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May foreclosure filings dropped to their lowest level in 18 months in Colorado, a sign that homeowners may be getting more leeway in repaying or restructuring their loans.
New filings in metropolitan Colorado counties fell to 2,633 in May, a 17.7 percent decline over the same month last year, according to the state Division of Housing.
Denver, Douglas, Larimer and Weld counties saw the steepest drop over last year, while Mesa county recorded an increase in new foreclosures. The monthly report only covered the 12 most urban Colorado counties.
“The news was unexpectedly good,” said Ryan McMaken, a Division of Housing spokesman. “The fact that this was such a low number over the past 18 months — that’s cause for cautious optimism.”
