Colorado Springs News, Sports & Business

Colorado Springs-area foreclosures continue to drop

By Rich Laden Updated: March 3, 2014 at 6:50 pm 0

Local foreclosure activity dipped in February from a month earlier, according to a report Monday by the El Paso County Public Trustee's Office.

Foreclosure filings, which are the start of the legal process in Colorado that can lead to the loss of a home or other property, totaled 181 last month in the county, down 10 percent from 201 filings in January and practically unchanged from 180 in February 2013, the report showed.

February's decline wasn't necessarily meaningful, since the 28-day month meant there were fewer work days in which his office processed foreclosure paperwork, El Paso County Public Trustee Tom Mowle said in an overview that accompanied his report.

Still, for the first two months of 2014, foreclosure filings totaled 382, down 3 percent from the 394 filings during the same period last year.

Colorado Springs-area foreclosure activity has been declining for the last two years as the local economy and single-family housing market have improved.

Foreclosure filings totaled 1,861 in 2013, the area's lowest total since 2002.

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