Colorado foreclosures hit record in Q3

AP News
Posted: Nov 19, 2009 2:22 PM

Colorado had a record-high number of new foreclosures in the third quarter, when new filings hit 12,468.

The quarter ending Sept. 30 was the fourth consecutive quarter in which new foreclosure filings increased.

For the year so far, new foreclsoure filings in Colorado are up about 18 percent compared to the same period in 2008.

The news isn't all bad, though.

Housing officials say Thursday that there are fewer completed foreclosures this year. The total number of completed foreclosures fell 8 percent during the first three quarters of the year when compared to the same period last year. That drop indicates that some homeowners behind on payments are doing a better job trying to get back on track and keep their homes.