Colorado Springs News, Sports & Business

Gazette Premium Content Colorado Springs-area foreclosure activity unexpectedly high in January

By Rich Laden Published: February 4, 2014

Colorado Springs-area foreclosure activity was unexpectedly high last month after having slowed in 2013, a report from the El Paso County Public Trustee's Office shows.

Foreclosure filings, which are the start of a legal process that can lead to the loss of a home or other property, totaled 201 in January. While January's filings were down 6.1 percent from the same month In 2013, they nevertheless reversed last year's downward trend; by November and December of 2013, foreclosure filings had fallen to 100 and 126, respectively.

Not only did local filings reverse course in January, but they exceeded the totals in several Denver metro-area counties, said Public Trustee Tom Mowle. Denver, for example, had just 79 filings last month, he said.

Mowle said he couldn't tie January's uptick in foreclosure activity to any specific cause. The fact that Denver-area counties saw fewer filings, he said, signals that their economic recovery has gone better than that of the Pikes Peak region - a fact noted by local economists. Even so, Mowle said he doesn't expect a dramatic worsening in local foreclosure activity. January's figure still is far below totals recorded between 2007 and 2012, when monthly filings routinely topped 300 and 400, and even surpassed 500 on a couple of occasions.

"It's not like we're back in the bad days," Mowle said.

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