El Paso County is roughly in the middle of the pack when it comes to how its foreclosure woes compare with the state’s other biggest counties, the Colorado Division of Housing’s latest monthly foreclosure report indicates.
The report, released Tuesday, looks at foreclosure filings in Colorado’s 12 most populous counties; a filing is the start of a process that can lead to the loss of a house. .
According to the report:
• El Paso County, which includes Colorado Springs, had a 3.8 percent decline in foreclosure filings in August when compared with the same month last year. Seven of the state’s 12 metro-area counties had bigger percentage decreases; Adams County’s 24.2 percent drop was the largest. Statewide, filings fell 10.1 percent in August compared with a year ago.
• Through the first eight months of the year, El Paso County filings fell 11.8 percent from the same period in 2009. Five other counties had bigger year-to-date decreases; Denver’s 22.1 percent drop was the largest among metro-area counties. Filings were down 11.8 percent statewide in the first eight months of the year.
Despite the decline in El Paso County, Public Trustee Tom Mowle — whose office processes foreclosure actions brought by lenders — has said local filings are on pace to total about 4,800 this year. That would be the county’s second worst total when it comes to annual filings, which totaled a record 5,470 in 2009.
• El Paso County had one completed foreclosure for every 833 households in August; a completed foreclosure refers to a property that went through the foreclosure process and was taken back by a lender or sold to a third-party investor.
Boulder had the best rate — one completed foreclosure spread out over 2,029 households. Adams had the worst rate of one per 616 households. For the 12 metro-area counties combined, the rate was one per 904 households.
—Contact the writer at 636-0228