Home foreclosures increasing in county compared to 2008 in Mesa County
With only two months on the books, completed foreclosures for the first quarter this year in Mesa County have surpassed the total for the first quarter of 2008, according to numbers released Thursday by the Colorado Department of Local Affairs’ Division of Housing.
Completed foreclosures are the homes for which foreclosure has been filed, and the home-owners were unable work out a deal with the bank, leading the bank to sell the home.
There were 32 completed foreclosures in Mesa County in January and February. First-quarter foreclosures, which include March, totaled 24 in 2008. The county had nine during the first quarter of 2007.
“They are up a whole lot more than I’d like them to be,” Mesa County Public Trustee Paul Brown said.
So far in March, there have been 56 foreclosures filed in Mesa County. There were 100 filed in January and February, Brown said.
“That is considerably more than last year at this time,” Brown said.
Statewide foreclosure filings are down compared to the first quarters of 2007 and 2008.
January and February numbers totaled 2,577 for Colorado, which is close to half of the 5,074 in the first quarter of 2008. There were 5,586 filings in the first quarter of 2007.
Although the numbers were lower than last year, the raw February numbers were equal to or greater than the January numbers for all 10 of the listed counties. The March numbers could make a sharp rise and cause the quarter totals to be higher than last year’s for more counties, according to the Division of Housing.
“March might be the first month that we start to really see the impacts of layoffs on home-owners,” said Kathi Williams, director of the Division of Housing.
The counties surveyed are in metropolitan areas and tend to be the ones that have the most foreclosures, said Ryan McMaken, spokesman for the Colorado Division of Housing.