STEAMBOAT SPRINGS — —In spite of a burst of activity in July, the pace at which foreclosure notices are being filed in Routt County suggests the final 2012 total will be well below the 306 filed in 2011.
Public Trustee Jeanne Whiddon said Routt County is on track to see about 250 of the foreclosure filings called notices of election and demand. They do not signify that someone has lost their property, instead they signify that the holder of the note has begun the process. Many NED’s are cured or withdrawn before the property goes to a bank sale.
Whiddon said that the pace of new NED’s continued at about 20 per month through the first six months of 2012 and uncharacteristically bloomed to 37 in July.
“July was an aberration,” Whiddon said. “It really was wild. Then it seemed to settle down, and August has been more in keeping with the first six months.”
Year to date, there have been 166 NED’s filed, Whiddon said. Of those, 32 have been withdrawn and the files on two more reflect that the note holder intends to withdraw the notice of election and demand.
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