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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (34592)	6/28/2005 10:34:19 PM
From: John Vosilla	Respond to of 306849

Climbing metro foreclosures on track to outpace last year's By Steve McMillan Denver Post Staff Writer Denver metro foreclosures continued to climb in the second quarter, with Adams and Jefferson counties on track for sizable increases. The rate so far in six of seven metro-area counties shows that repossessions in metro Denver could outdistance last year, when foreclosures hit 12,393, the highest level since 1988. Public trustees attribute the increase to bad borrowing and lending decisions, relatively flat home prices and lagging income growth. The metro area has seen job growth this year, but the recession hit Denver and its surrounding suburbs hard in 2001. The fallout from lost jobs has boosted foreclosures. "I keep thinking it's slowing down, and then it's a blizzard coming in," said Jeannie Reeser, Adams County public trustee. In certain older parts of Thornton around Emerson and Ogden streets, homeowners who are behind in payments are walking away from properties, she said. Foreclosures in Adams County as of Monday were up 34.6 percent for April, May and June over the same time period last year. Foreclosures in Jefferson County were up 32 percent in April and May over the same time last year. (No June figures were available Monday from Jefferson County.) With three days left in the second quarter, foreclosures also are up in Arapahoe, Boulder and Denver counties. Broomfield County had the same number of repossessions, and no figures were available denverpost.com