People Filing for Foreclosure in Colorado dropped Drasctically in April

The Foreclosure-filing rate for Colorado  in April dropped 68.7 percent from April 2012 and 34 percent from March, according to RealtyTrac’s monthly foreclosure report.

Colorado had the 36th highest foreclosure-filing rate in the nation last month — its a solid improvement from having among the top 10 highest rates in the country for much of the last couple of years.

Accross the nation, there were 144,790 properties that had foreclosure filings in April, which is down 23 percent from April 2012 and down 5 percent from March.

It went on to say that one in every 905 U.S. housing units had at least one foreclosure filing in April.

Nevada posted the nation’s highest state foreclosure rate for the second month in a row, reporting one in every 360 housing units with a foreclosure filing during the month.

Foreclosure filings are the initial documents, these documents are filed with county public trustee’s offices, this then starts the foreclousre process. That process ends with the sale of a property at auction, unless debt related to the property is repaid.