Foreclosures Down in Colorado
May 16th the Colorado Division of Housing reported a 41 percent decrease in foreclosure filings in Colorado. There were 4,571 foreclosure filings the first quarter of 2013 across the state compared to 7,785 during the same time period last year. Actual foreclosures were down 30.5 percent from first quarter last year.
Foreclosure filings differ from foreclosures. Foreclosure filings are the paperwork; actual sales happen over 100 days later. During this time, borrowers and lenders try to work towards an agreement to bypass foreclosure. This may involve options like short sale or re-financing.