Colorado Springs-area foreclosures rise in October
The number of local residential and commercial properties served with foreclosure notices rose in October compared with a month earlier, although year-to-date foreclosure activity continues to trail that of 2014, according to a report Monday by the El Paso County Public Trustee’s Office.
Foreclosure notices – the start of the legal process that can lead to the loss of a home or other property – totaled 138 last month, a roughly 45 percent jump from September, the report showed.
Still, foreclosure notices totaled 1,191 for the first 10 months of the year – a nearly 23 percent drop from the same period last year. El Paso County also remains on pace for its fewest number of foreclosure notices since 2001.
El Paso County saw a record 5,288 foreclosure notices in 2009. Since then, notices have declined each year.
Real estate experts and economists have credited a better economy and stronger single-family housing market for the reduction in foreclosure activity. In particular, rising property values and an increased demand for housing have made it easier for homeowners to sell their properties or refinance their mortgages – helping them to stave off foreclosure.






