Luczak Group - The Blog

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Foreclosures continue to dwindle in Colorado Springs


By: Rich Laden 

April 3, 2017 Updated: April 3, 2017 at 8:41 pm


Colorado Springs-area foreclosure activity continued to decline during the first quarter, according to a report Monday from the El Paso County Public Trustee's Office.


During the first three months of 2017, foreclosure notices sent to property owners in the Springs and El Paso County totaled 286. That's down by nearly one-third when compared with the same period last year, the Public Trustee's report showed.


In March alone, foreclosure notices totaled 91 or a 30.5 percent, year-over-year decline, according to the report.

When the Great Recession hit a decade ago, foreclosure notices - sent to property owners who fall behind in their mortgage payments - began to soar. By 2009, foreclosure notices in El Paso County totaled a record high of 5,288.

But a stronger economy and robust single-family housing market have helped drive down foreclosure activity. Last year's total of 1,287 foreclosure notices was the lowest in El Paso County since 2001.


The Gazette 

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