A top state housing official today published a report criticizing the way that Irvine, Calf.-based RealtyTrac counts foreclosures in Colorado. RealtyTrac’s conclusion that foreclosure activity in Colorado rose in the second quarter from the same period in 2009, is simply incorrect, said Ryan McMaken, spokesman for the Colorado Division of Housing.
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Colorado “more often than not” has been below the national foreclosure rate in recent months, Ryan [...]
The Denver area saw a faster percentage growth during the first quarter in foreclosure activity than the national [...]
“That sizable year-over-year percent increase for the first quarter should be taken with a grain of salt since the first quarter totals last year were so impacted by the existence of the moratoria that only started to be phased out in March,” Ryan [...]
“The fact that Colorado is falling much more quickly in delinquency rankings than in Realtytrac rankings would lead me to conclude that Colorado is very slowly dealing with its accumulated inventory of foreclosing properties, but that the rate at which new properties are defaulting in Colorado is slowing at a much faster rae,” Ryan [...]
“If history repeats itself we will see a surge in the numbers over the next few months as lenders foreclose on delinquent loans where neither the existing loan modification programs or the new short sale and deed-in-lieu of foreclosure alternative works,” James A. [...]
The Denver-Aurora area saw a 12 percent decrease in total foreclosures – everything from notices of election and demands to REOs – according to [...]