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Colorado’s Infamous Weld County Forms Foreclosure Counseling Forum
By sharon | May 8, 2008
Colorado has long had a reputation as one of the state’s with the highest inventories of foreclosure properties, and for a long time there foreclosure situation was one of the worst in the country. But in an effort to battle that trend, the Mayors of several cities in Colorado have come together to form the Weld County Mortgage Assistance and Counseling Forum.
Weld County has traditionally been one of the worst in the state for foreclosures, largely due to rampant development of new homes that sat on the market un-purchased after the housing market turned sour. These eventually went into foreclosure, and gave Weld county one of the highest foreclosure rates in the nation at 1 in ever 29 homes undergoing some stage of the foreclosure process in the past several years.
The new group, which works in conjunction with federal help and the Colorado Foreclosure Hotline, hopes to provide special assistance to those affected by foreclosure in Weld County, to help get both citizens and the local economy back on their feet. This could be the sign of further turnaround in the Colorado foreclosure homes market, which has improved somewhat over the past year.
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Topics: Foreclosure Crisis |