Foreclosure bottom reached
Colorado’s foreclosure crisis has hit bottom, and most states are in worse shape than in Colorado as far as homeowners losing their homes, according to an in-depth analysis of the latest Mortgage Bankers Association data by Ryan McMaken of the Colorado Division of Housing.McMaken’s analysis of the MBA data shows that Colorado has the 14th lowest foreclosure inventory in the nation. Colorado was one of the first states to be hit by the foreclosure crisis, and before 2008, often had one of the highest foreclosure rates in the nation. Colorado is now in 36th place, according to McMaken’s analysis.
“Clearly, we have hit bottom,” McMaken said on Friday. “But the number of filings are still going up and there is still so much fragility in the market that we don’t want to be over-confident. Anything can happen. But the trends we are seeing so far have been good.”…more