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CS foreclosures drop in Sept.

Thu, Dec 8, 2011

News

September foreclosures in the Colorado Springs region dropped year-over-year, according to a report from real estate analysis firm CoreLogic.

According to CoreLogic data, 1.5 percent of all outstanding mortgages foreclosed in September. That’s a 0.19 percent improvement over the 1.69 percent foreclosure rate in September 2010.

The Colorado Springs foreclosure rate is also well below the national average of 3.48 percent.

On top of a shrinking foreclosure rate, the mortgage delinquency rate in Colorado Springs has also dropped. In September of this year, 3.98 percent of all outstanding mortgages were 90 days or more delinquent compared to 4.47 percent in September 2010.

Those number are also better than the national average, where 7.17 percent of mortgages are 90 days or more delinquent. The Pikes Peak region is also better off than the state, where 4.11 percent of mortgages are 90 days or more delinquent.

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