The only problem he sees is that there
The only problem he sees is that there are over-enthusiastic buyers who get loans and mortgages that they cannot […] 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. There is a disaster driving the high rate of foreclosures, said Mary Wenke, public trustee of Arapahoe County. 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.
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