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Colo. foreclosures drop 31.4 percent

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Foreclosures in Colorado dropped 31.4 percent in April, slightly less than the national average of 35.3 percent, according to RealtyTrac. That translates to one out of every 495 households in Colorado was in foreclosure during April, ranking it No. 9 nationally. The national average was one out of every 593 homes. The huge drops largely are… Continue Reading Colo. foreclosures drop 31.4 percent

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Apartment hunters in Colorado Springs have had it pretty easy the last 10 years — low rates, big incentives and lots to choose from. Not anymore. The Colorado Division of Housing released quarterly apartment vacancy statistics last week, which confirmed what people in the industry already knew — vacancies are at an all-time low. Colorado… Continue Reading Military, foreclosures shaping apartment rental market

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In a shocking turn of events for local housing advocates, a bill that had the potential to ease the state’s foreclosure crisis was killed in committee last week. That will leave housing counseling agencies scrambling for resources and could have a broad effect on operations designed to keep people in their homes. “We don’t have… Continue Reading Foreclosure councilors facing cuts as need grows

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Lender processing delays reduced the number of U.S. homes taken back by banks in the first three months of the year and contributed to a sharp drop in properties entering the foreclosure process. But March foreclosure data suggest foreclosure activity may be starting to creep higher, as lenders make progress tackling a backlog of pending… Continue Reading Processing delays slow foreclosure activity in 1Q

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Foreclosures: Who steps in?

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There are so many vacant houses on the market in El Paso County because of foreclosures that a full recovery is impossible until the market is rid of that inventory, local experts say. “The number of foreclosed homes … represents a big obstacle to new home sales since homebuilders are in direct competition with the… Continue Reading Foreclosures: Who steps in?

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New foreclosure filings dip in Colorado in 2010

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Housing officials say new foreclosure filings in Colorado fell in 2010, but the number of foreclosure sales at auction rose. The Division of Housing said this week there were 42,692 foreclosure filings in 2010. That’s down 8 percent from a record 46,394 filings in 2009, when people suffered layoffs during the recession. But the number… Continue Reading New foreclosure filings dip in Colorado in 2010

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The Colorado Division of Housing closed the books on 2010 last night, and the final statewide foreclosure numbers aren’t pretty. In 2010 there were 42,692 new forclosure filings in Colorado, which is the second highest on record behind the 46,394 filings in 2009. Foreclosure sales at auction, the event that completes the foreclosure process, were… Continue Reading El Paso County ranks fourth in state for foreclosures

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Apartment market at tipping point

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It has been a renter’s market in Colorado Springs for most of the last decade, but that’s about to change. Demand for apartments and rental homes is up because homeowners whose houses have been foreclosed upon are renting now, and builders are holding off on constructing apartment complexes until the economy strengthens. Rental vacancy rates… Continue Reading Apartment market at tipping point

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Foreclosure rescue plan tripped up by red tape

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Out-of-work homeowners facing foreclosure in Colorado were supposed to receive more than $40 million in help from the federal government by the end of 2010. Instead, the Housing and Urban Development department’s Emergency Homeowner Loan Program has been delayed at least until April 1, and questions remain about how the funds will be administered and… Continue Reading Foreclosure rescue plan tripped up by red tape

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Lawmakers taking aim at foreclosure practices

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Work began at the statehouse this week on legislation to address the ongoing foreclosure crisis. Meaningful reform, however, seems like a long-shot. Any potential legislation would require a bold and detailed proposal from a member of the House Economic and Business Development Committee, most of whom are new to the panel. Rep. Angela Williams, D-Denver,… Continue Reading Lawmakers taking aim at foreclosure practices

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