The Colorado Division of Housing has released a new report, which shows foreclosure filings through the month of September have already thwarted last year’s foreclosure figures for the entire year.

According to the report, the state recorded 28,960 foreclosure filings between the months of January and September of this year, which is slightly more than the 28,509 filings recorded for the entire twelve months of last year.
Despite evidence that foreclosures are on the rise, the Foreclosure Prevention Task Force in Colorado believes the numbers would have been worse without the extensive loss mitigation effort that swept the state this year.
“Our records indicate that at least 5,600 households that have sought counseling through the hotline over the last year have avoided foreclosure,” said Kathi Williams, director of the Colorado Division of Housing and co-chair of the Task Force. “The greatest impact of that is likely seen in the number of foreclosure sales. So without the hotline, we might be looking at 24,500 foreclosure sales instead of 19,000.”
The nine-month period examined in 2007 also indicates that foreclosure auction sales rose significantly when compared to the year 2006. The Colorado Division of Housing says, the first part of the year brought 19,025 foreclosure auction sales, compared to 15,112 for the entire year last year.