Some for good news for Colorado Foreclosures. The percentage of mortgage loans in any stage of foreclosure / delinquency have both fallen in the first quarter.
This is a very positive sign. While other foreclosure numbers have been skewed due to improvements in how banks have been treating Denver short sales, these numbers point to a broader, market improvement.
From the Denver Business Journal:
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.
If you’d like to discuss the market or Colorado foreclosures, give us a call at 303-726-1874.
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