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Arapahoe County, Colorado ranks number 41 of 100 counties
in the nation with the highest percentage of households
facing
foreclosure, according to data provided in RealtyTrac's August 2007
U.S. Foreclosure Market Report.
In August, 243,947 foreclosure filings were reported nationwide;
up 36 percent from the previous month and up 115 percent from August
2006. This is the highest number of foreclosure filings in a single
month that RealtyTrac has reported since it began issuing the
monthly report in January 2005.
The report also showed a national foreclosure rate of one
foreclosure filing for every 510 households for the month; the
highest national ratio ever issued by the foreclosure tracking
company.
For homeowners in Arapahoe County the ratio is even more
alarming. One of every 181.27 households in the county is now facing
foreclosure.
Statewide, one of 312 households in Colorado faced foreclosure in
August. The state’s records show an 11.25 percent increase in
foreclosure activity from the previous month and an 8.34 percent
increase over August 2006. Reporting 6,586 foreclosures for the
month, Colorado ranks eighth among states with the highest
foreclosure rates.
With 223141 households and total foreclosure filings in August
reaching 1231, Arapahoe County is one of 6 counties in Colorado to
make the national list for counties with the highest foreclosure
rates.
Although it is unclear what may have caused foreclosure activity
in Arapahoe County to spike, one thing is clear. The situation is a
national crises for homeowners with mortgages they can no longer
afford AND an unprecedented opportunity for investors and home
buyers.
The resources listed below may help you protect your home,
lower and even cancel your mortgage, or find a new home at a price
no one could have imagined just a few years ago. |
