Industry News

Colorado leads nation in foreclosure rate

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Foreclosures in December dropped 9 percent since November but were up 35 percent compared to December 2005, according to a report by RealtyTrac, an online marketplace for foreclosure properties. There was a national foreclosure rate of one new foreclosure filing for every 1,055 U.S. households in December, according to the U.S. Foreclosure Market Report, and 109,652 properties entered a stage of foreclosure that month. The report provides the total number of homes entering some stage of foreclosure nationwide and by state over the past month. The company also collects data at the county level. The report includes properties in all three phases of foreclosure: notice of default and lis pendens; notice of trustee sale and notice of foreclosure sale; and real estate-owned, or REO properties that have been foreclosed on and repurchased by a bank. "New foreclosure filings surpassed the 100,000 level for the fifth straight month, something we've not seen since we began issuing our forec...