Mesa County foreclosure rate highest among metro counties

Mesa County reported the highest property foreclosure rate among metropolitan counties in Colorado during the first quarter of 2011.

While foreclosure filings fell more than 30 percent during the quarter compared to the same span last year, foreclosure sales increased slightly.

According to the latest statistics from the Colorado Division of Housing, Mesa County reported one foreclosure sale for every 221 households.

That ratio ranks first among the 12 most populous counties in the state. Weld and Adams counties ranked second and third, respectively.

Mesa County reported 276 foreclosure filings during the first quarter of 2011, down 30.5 percent from the 397 filings reported during the first quarter of 2010.

The county reported 264 foreclosure sales during the first three months of this year, up 2.3 percent from the 258 sales reported during the same span last year.

Filings constitute the beginning of the foreclosure process. Filings can be cured or withdrawn before properties are sold, however. Mesa County reported 13 such cures during the first quarter of 2011.

Sales indicate how many properties have been sold at auction at the end of the foreclosure process. Because of the period between filings and sales, the two don’t occur during the same month.

 

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Posted by on May 5 2011. Filed under Business News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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