Colorado loans in foreclosure down in Q1

Denver Business Journal

Date: Thursday, May 19, 2011, 1:21pm MDT

The percentage of mortgage loans in some form of foreclosure and new 30-day mortgage delinquencies in Colorado both fell in the first quarter, according to data released Thursday by the Mortgage Bankers Association.

The first-quarter foreclosure inventory rate of 2.33 percent is down from last year’s first quarter rate of 2.76 percent, and it is also the lowest rate since the fourth quarter of 2008 when the foreclosure inventory rate fell to 2.16 percent, the association reported.

During the first quarter, 37 states reported higher foreclosure inventory rates than Colorado, with Nevada and Florida reporting the highest rates of 9.32 percent and 14.38 percent, respectively, the Colorado Division of Housing said on its website.

Among the 12 states with lower foreclosure inventory rates than Colorado, Alaska and North Dakota had the lowest rates of 1.08 and 1.13, respectively.

The national foreclosure inventory rate was 4.52 percent during the first quarter.

Receive a free Market Analysis to get the true value of your metro Denver home.

The percentage of Colorado mortgage loans that were 90-days delinquent or in foreclosure fell to 4.52 percent in the first quarter, down from 5.76 percent in the same period a year ago, the housing division reported. The rate peaked at 5.87 percent in the fourth quarter of 2009.

Nationwide, the percentage of mortgage loans that were either 90-days delinquent or in foreclosure was 8.1 percent in the first quarter, falling from 9.54 percent a year earlier.

Click here for more information on the latest mortgage and foreclosure data.

A monthly report Tuesday from the Division of Housing cited a sharp decline in new foreclosure filings in April for the state’s urban areas from the previous year, but cautioned that foreclosure sales are still trending higher than pre-recession levels.

Read more: Colorado loans in foreclosure down in Q1 | Denver Business Journal

Advertisements

About dherries
Dave and Sally Herries and The RealtyColorado Team - Real Estate Broker serving the metro-Denver area. Offering properties in urban, sub-urban and rural areas. Our mission statement is "Enriching lives through real estate."

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: