That translates to a ratio of one of
That translates to a ratio of one of every 494 households in foreclosure. Colorado has the distinction of having the highest number of foreclosed homes in the nation for the second consecutive month. The only problem he sees is that there are over-enthusiastic buyers who get loans and mortgages that they cannot [...] There is a disaster driving the high rate of foreclosures, said Mary Wenke, public trustee of Arapahoe County. The factors driving the numbers include a record excess of unsold homes in the market, homeowners’ huge credit card debts, pre-payment penalties, mortgage fraud, and bankruptcies.
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