DENVER (AP) – State officials say new foreclosure filings in urban and suburban areas in Colorado have slowed but it’s not necessarily because conditions are improving.
The Colorado Division of Housing said Wednesday that foreclosures in 12 metropolitan counties have dropped to a 30-month low.
Housing officials say mortgage servicers have been slow in processing foreclosures following a “robo-signing” scandal that emerged last fall, when some lenders were accused of signing paperwork without checking their accuracy.
There were a total of 1,986 new foreclosure filings in February in Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, El Paso, Jefferson, Larimer, Mesa Pueblo and Weld counties. That’s down almost 35 percent from February 2010.
The number of homes completing the foreclosure process with a sale at auction also fell by almost 20 percent from a year earlier.
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