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Foreclosure filings in Colorado’s largest counties increased 6.5 percent last month compared to February of last year, according to a report this week from the Department of Local Affairs’ Division of Housing. However, the counties with the largest decrease in filings during the period were El Paso and Larimer counties. Foreclosure sales at auction rose… Continue Reading Colorado foreclosure filings up 6.5 percent in February

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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 January foreclosure rates up, state still faring well

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County breaks foreclosure record

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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 County breaks foreclosure record

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Homeowners in financial trouble often redefault

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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 Homeowners in financial trouble often redefault

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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 Bankruptcy, foreclosures and living the life thereafter

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Colorado ranked 9th for foreclosures

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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 Colorado ranked 9th for foreclosures

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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 Property management companies springing up, flourishing

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First-time homebuyers seizing opportunity

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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… Continue Reading First-time homebuyers seizing opportunity

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