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County foreclosures set record - again, an article from The Gazette, relays that according to a report by the County Public Trustee's Office, foreclosures totaled 488 in March, the third time since December that monthly foreclosures have set a record. One thing to keep in mind about foreclosures, not every filing results in the loss of a home. Some homeowners are able to come up with money and catch up on their missed payments or they work out a payment plan with a lender, who withdraws the foreclosure action. Also, El Paso County's foreclosures are being spread out over a greater number of households because of the county's growth. Despite the rise in foreclosures, the rate of foreclosure per household is much lower than 20 years ago.
http://www.gazette.com/articles/county_34841___article.html/foreclosures_foreclosure.html
--Roger Collins, First National Bank
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