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Foreclosure Rates Rise Outside Metro Area

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(credit: CBS)

(credit: CBS)

DENVER (AP) — Communities outside the Front Range are feeling the foreclosure pain despite a 27 percent drop in foreclosure filings in Colorado.

A report released early Tuesday by the Colorado Division of Housing says new foreclosure notices fell to 23,338 during the first nine months of 2011, down from 32,009 filings during the same period last year. All 12 of the Denver metro counties saw drops in filings, with Adams falling 32 percent and Denver down 31 percent.

With rates falling faster in other counties and some increases, the counties with the top 10 foreclosure now rates include Summit, Grand, Gunnison and Park counties.

Foreclosures sales, which happen once a homeowner has exhausted all options to save their home, are also down 18 percent at 15,560 when compared with last year’s 19,163.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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