Denver Colorado Foreclosure Trends - 2Q08

On August 5, 2008, the Colorado Division of Housing reported foreclosure filings rose in the second quarter of 2008 however the rate of increase is moderating.

The number of foreclosure filings provides a sound view of how many borrowers have become seriously delinquent and/in default on their home loans.

During the first quarter of 2008, 11,630 foreclosure filings were reported by Colorado public trustees. And, in the second quarter, the public trustees reported 10,875 foreclosures.

January to June 2008, there were 22,500 foreclosure filings and there were 39,915 filings reported during the entire year of 2007.

Comparatively, the second quarter of 2007 to second quarter of 2008, Colorado sustained a 9% increase in foreclosure filings. The second quarter filings were higher than the 10,017 foreclosures filed in the second quarter of 2007 but down 6% from the years first quarter.

Foreclosure filings in Colorado increased 31% in 2005/2006 and 40% from 2006/2007. Current forecasts are that filings may only increase 10-20% in 2007/2008. This would be a notably reduced annual increase.