Colorado Springs News, Sports & Business

Colorado Springs-area foreclosure activity slows in April

By Rich Laden Published: May 5, 2014 0

Local foreclosure activity fell last month after an unexpected surge during the first quarter of the year.

Foreclosure filings totaled 167 in April, a 3.5 percent drop from the same month last year and a 17.3 percent decline from March, a recent report by the El Paso County Public Trustee's Office showed.

In Colorado, a foreclosure filing begins the process that can lead to the loss of a home or other property if an owner is unable to resolve the situation with a lender.

Even with April's decline, foreclosure filings for the year are running ahead of last year. Filings hit 751 for the first four months of 2014, a 4 percent increase over the same period in 2013, according to the Public Trustee's report.

At the same time, the Public Trustee's Office is seeing far fewer releases of deeds. Releases take place when an owner sells property, pays off a mortgage or refinances - all positive steps. In April, the Public Trustee's Office recorded 1,926 releases, a 55.6 percent decline from the same month last year.

During the first four months of 2014, releases totaled 8,015 - a 54.3 percent drop over the same period last year.

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Contact Rich Laden: 636-0228

Twitter @richladen

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