A top state housing official today published a report criticizing the way that Irvine, Calf.-based RealtyTrac counts foreclosures in Colorado. RealtyTrac’s conclusion that foreclosure activity in Colorado rose in the second quarter from the same period in 2009, is simply incorrect, said Ryan McMaken, spokesman for the Colorado Division of Housing. John RebchookJohn Rebchook has more than 30 years of…
Earlier today I posted a blog that showed the overall Colorado vacancy rate at the end of 2009 was 7.9 percent from 8 percent at the end of 2008, and the average and median rents were down slightly during the same time period. “Statistically it is unchanged from a year ago, although two years ago the vacancy rate stood at…
“If history repeats itself we will see a surge in the numbers over the next few months as lenders foreclose on delinquent loans where neither the existing loan modification programs or the new short sale and deed-in-lieu of foreclosure alternative works,” James A. Saccacio.
“We’re making good progress,” Ryan McMaken.
The Denver-Aurora area saw a 12 percent decrease in total foreclosures – everything from notices of election and demands to REOs – according to RealtyTrac.
“As bad as the 2009 numbers are, they probably would have been worse if not for legislative and industry-related delays in processing delinquent loans,” James J. Saccacio.
“I guess we thought they just couldn’t go any higher,” Dianne Bailey.
“It appears very unlikely that the number of completed foreclosures will reach the total set in 2007 and 2008,” Ryan McMaken.
“Struggling homeowners in every state now benefit from reduced monthly mortgage payments and have an opportunity to stay in their homes,” Michael S. Barr.