New foreclosure filings in Colorado rose 6 percent in the first quarter compared with the same period in 2009, according to date released Thursday.
There were 11,136 new filings, compared with 10,509 during the first quarter last year, according to the report by the Colorado Division of Housing. But foreclosure filings are down 4.3 percent compared with the first quarter of 2008.
"Foreclosures aren't really going up much, and there's no sign of a big increase, but they're not going away anytime soon," said Ryan McMaken, spokesman for the division. "We will only start to see big dips when there's job growth. This ties into the larger economy."
Since the first quarter of last year, foreclosure filings have dropped in 22 counties, with the largest declines in Larimer and Pueblo counties, which fell 15.1 percent and 9.7 percent respectively. Mesa County reported the largest year-over-year increase at 126.9 percent.
"Statewide, the numbers are stable, but that doesn't mean all counties are stable," McMaken said. "The plateau that's occurred on the Front Range doesn't apply to the mountains and the Western Slope."
Meanwhile, the number of foreclosures sold at auction rose 53.6 percent compared with a year ago, but the increase is largely because of the end of a national moratorium on processing foreclosures that was instituted in late 2008 and early 2009.
Foreclosure sales were up 13.3 percent from the first quarter of 2008, rising from 5,899 to 6,686.
As the moratoriums have lifted, banks have started offering more options to help borrowers work out their loans, said Shannon Peer, director of housing counseling at Brothers Redevelopment Inc.
"Banks are working with borrowers more than ever before," he said.
