Mesa County: Foreclosures Up Big

By: Joe Gagnon Email
By: Joe Gagnon Email

A new study from a group tracking real estate trends says Colorado had a big decrease in foreclosures compared to this time last year.
The same cannot be said for Mesa County, homes are being foreclosed at a much higher rate than last year.
51-year-old Susan Spencer was just days away from being forced out of her house.
With money getting tight, taking trips to get chemotherapy for lung cancer, and her job in limbo, the Grand Jjunction resident was days away from being forced out of her Colorado Avenue home.
Then she got a job on the oil rigs, making enough money to afford her $1200 monthly mortgage payments.
Problem is, "They could shut that off just like this," she says.
She's worried her good fortune may not last because of a 70% decrease in oil rigs since September of last year.
Mesa County public trustee Paul Brown says the local housing market is in rough shape, "We have around a 75% increase in foreclosures from last year."
In the first fiscal quarter last year, there are one hundred more homes foreclosed, a jump of more than 50%.
Paul Brown says he noticed Grand Junction doesn't get affected by national trends until about six months to a year later, and this may be just another example.

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