http://blogs.csbj.com/csbjdaily/2008/01/29/nearly-2-percent-of-all-colorado-homes-in-foreclosure/ Colorado Springs Business Journal Daily News Thu, 04 Dec 2008 21:09:29 +0000 http://wordpress.org/?v=2.3.1 http://blogs.csbj.com/csbjdaily/2008/01/29/nearly-2-percent-of-all-colorado-homes-in-foreclosure/#comment-548 Eileen Healy, Realtor, GRI, ePro Wed, 30 Jan 2008 00:16:00 +0000 http://blogs.csbj.com/csbjdaily/2008/01/29/nearly-2-percent-of-all-colorado-homes-in-foreclosure/#comment-548 It is important to note in any story about foreclosures in Colorado that, while the rate has certainly increased within the state, comparisons with the foreclosure rates of other states can be inaccurate. Colorado reports foreclosures differently than many other states, by capturing the numbers at the beginning of the process, at the filing of the Notice of Election and Demand. Many of these homes are taken back by the homeowner during the redemption period, and never go into full foreclosure and sale. In contrast, other states count foreclosures at the sale at auction, when no further redemption by the homeowner is possible. It's important to remember this reporting difference when looking at foreclosures in the news. It is important to note in any story about foreclosures in Colorado that, while the rate has certainly increased within the state, comparisons with the foreclosure rates of other states can be inaccurate. Colorado reports foreclosures differently than many other states, by capturing the numbers at the beginning of the process, at the filing of the Notice of Election and Demand. Many of these homes are taken back by the homeowner during the redemption period, and never go into full foreclosure and sale. In contrast, other states count foreclosures at the sale at auction, when no further redemption by the homeowner is possible. It’s important to remember this reporting difference when looking at foreclosures in the news.

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