Brothers Redevelopment Inc Blogs Blogs - What the slight rise in foreclosures and plateau in Hotline calls means
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May 16

Written by: BRIBlogger
Friday, May 16, 2014 12:24 PM 

 Call numbers at the Colorado Foreclosure Hotline reflect a Denver Post headline noting that foreclosures are up but far below the previous year.

Call numbers at the Colorado Foreclosure Hotline reflect a Denver Post headline noting that foreclosures are up but far below the previous year. Hotline Director Shannon Peer said the hotline “hasn’t seen a slowdown in the monthly call volume in recent months” as was experienced in 2013. “We have seen a plateau in the number of calls averaging around 450 each month. Currently, more than in the past, more callers are severely delinquent and more are calling because unemployment benefits have run out.”

According to the story, RealtyTrac noted there were 1,405 foreclosures statewide in April; a slight increase from 1,368 in March.

Colorado Division of Housing Economist Ryan McMaken noted that, while a slight increase, those numbers are nothing compared to rates in earlier years.

The Hotline’s Peer said the slight increase in number of foreclosures and the plateau of calls to the Hotline tell him that there are still homeowners at risk of foreclosure who can benefit from the free, HUD-approved counseling available from the Colorado Foreclosure Hotline. 1-877-601-HOPE.

For the full story go to http://www.denverpost.com/Business/ci_25764637/Colorado-foreclosures-up-but-far-below

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