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Colo. ranked 10th for foreclosures

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Colorado ranks 10th in the nation for foreclosure filings in 2010, according to RealtyTrac Inc., an Irvine, Calif.-based private marketer of foreclosure properties. The report said that 2.51 percent of Colorado’s housing units, or one out of every 40, had a foreclosure filing in 2010, slightly higher than the national rate of 2.23 percent, or one… Continue Reading Colo. ranked 10th for foreclosures

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Foreclosure filings fell 21-percent from the previous month, and 14-percent from November 2009, according to a RealtyTrac report. There were 262,339 foreclosure filings in the United States for November. Colorado was the 10th highest state for foreclosures with 4,970. RealtyTrac CEO James Saccacio attributed the drop to seasonal cycles, which typically result in a 7 to… Continue Reading Foreclosure activity plummets nationwide due to moratorium

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El Paso County foreclosures rise in November

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Foreclosure starts in El Paso County jumped 10.5 percent over last month, according to a report released by the El Paso Public Trustee’s office. The county saw 430 foreclosure filings in November, bringing the 2010 total to 4,396. The region is on pace to log the second highest number of foreclosures since at least 1981. 2009 saw… Continue Reading El Paso County foreclosures rise in November

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Foreclosure auction sales drop to 19-month low

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Foreclosure sales at auction in Colorado’s largest counties fell to a 19-month low during October as the mortgage industry slowed down action on foreclosures. The Colorado Division of Housing reports that Foreclosure sales in Colorado’s 12 urban counties totaled 1,308 in October, down from September’s 2,111 and October 2009’s 1,518. For the year to date through… Continue Reading Foreclosure auction sales drop to 19-month low

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Colorado logged 5,751 foreclosure filings in October, up 13.95 percent from October 2009, according to a Realtytrac report released today. Still, the number of foreclosures was down 4.63 percent from last month. The Realtytrac report ranked Colorado No. 10 for the most foreclosures nationwide. An analysis of the breakdown can be found here.

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The foreclosure crisis intensified across a majority of large U.S. metropolitan areas this summer, with Chicago and Seattle – cities outside of the states that have shouldered the worst of the housing downturn – seeing a sharp increase in foreclosure warnings. California, Nevada, Florida and Arizona remain the nation’s foreclosure hotbeds, accounting for 19 of… Continue Reading Foreclosure activity up across most US metro areas

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Bank of America plans to resume foreclosures on more than 100,000 homes in 23 states next week, saying Monday it has a legal right to seize them. Bank of America Corp., the country’s largest bank, began halting foreclosures on Oct. 2 amid questions of faulty paperwork. The company on Monday said it plans to resubmit… Continue Reading Bank of America plans to resume some foreclosures

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Colo. foreclosure reforms may be ahead

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Sonya Robison was surprised to receive foreclosure notification for her 40-acre property in Yoder last year. She had been behind on her mortgage but was making payments to the lender as per their agreement. Robison also was confused. The lender that wanted to foreclose on her home was Deutsche Bank National Trust Co. — and… Continue Reading Colo. foreclosure reforms may be ahead

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An extended moratorium on home mortgage foreclosures could wreak havoc on the title insurance business. Even if banks quickly resume in pressing ahead with foreclosures, some buyers are likely to hesitate buying a home out of foreclosure amid concerns about ownership. A title insurance policy is issued whenever a home changes hands, guaranteeing that the… Continue Reading Foreclosure crisis has chilling effect on buyers, title companies

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Testimony won’t stop Wells Fargo foreclosures

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Wells Fargo & Co. does not plan to halt foreclosuresdespite an employee’s testimony that she signed up to 500 foreclosure documents daily without reading them. The employee of the San Francisco-based bank said in a deposition taken last March that she signed between 300 and 500 foreclosure documents per day, verifying only her name and title.… Continue Reading Testimony won’t stop Wells Fargo foreclosures

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