January foreclosure rates in Colorado Springs have increased, but the city remains far below the national rate. First American CoreLogic reported this week that January’s foreclosure rate among outstanding mortgage loans was 1.84 percent for the month – an increase of slightly more than one-half percent compared to January 2009 when the rate was 1.28 [...]
Continue reading …Public Trustee Tom Mowle said this morning that 4,603 foreclosure starts have been reported, surpassing last year’s total of 4,602 – and there are still two months left in the year.
Continue reading …WASHINGTON (AP) – Lenders are ramping up efforts to avoid home foreclosures, but a report by bank regulators says more than half of borrowers who get help fall behind again. More than 50 percent of homeowners with loans modified in the first half of last year had missed at least two months of payments a [...]
Continue reading …When homeowners are confronted with impending foreclosure, they often will file for bankruptcy. The act of filing for bankruptcy causes an “automatic stay,” which stops creditors from taking action, thus preventing a foreclosure, said Michael Sousa, assistant professor at Denver University’s Sturm College of Law. Sousa said that if homeowners have unsuccessfully tried other means [...]
Continue reading …Colorado had the ninth-highest foreclosure rate in the nation during April, according to RealtyTrac Inc. A total of 5,495 Colorado properties were in foreclosure , or one per every 387 households. That was down 1.5 percent from March and down 9 percent from April 2008. Nevada had the nation’s highest rate, with one in every 68 households [...]
Continue reading …Perhaps as a result of historically high foreclosure rates, tight credit or a slow residential resale market, an increasing number of homes – and some commercial buildings – are now being offered for rent. As a result, property management companies are forming to handle the workload Dominion alliance ‘hands on’ Dominion Property Management, a partnership [...]
Continue reading …WASHINGTON (AP) – Sales of previously occupied homes jumped unexpectedly in February by the largest amount in nearly six years as first-time buyers took advantage of deep discounts on foreclosures and other distressed properties. Economists said sales, while still at levels not seen since 1997, may finally be coming back to life after declining sharply [...]
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