Denver (AP) Colorado is on pace to log a 25 percent increase in foreclosures at year end. A state study found more than 9,200 housing foreclosure filings were submitted in the first quarter of 2007.
The figures in a report released yesterday come from public trustees in 51 of Colorado's 64 counties, who reported 9,254 foreclosure filings from January to March.
According to the Colorado Division of Housing, one in every 385 households were in foreclosure.
The first-quarter results were equal to one-third of all filings in 2006, when 28,453 were recorded statewide. If the filings continue at the same pace, it is estimated foreclosures could increase 25 percent to 36,000 for 2007.