High number of Castle Rock Foreclosures

According to a recent study conducted by Douglas County Libraries, it has been noticed that Castle Rock foreclosures as well as Highlands Ranch foreclosures are right at the top of the foreclosure list of Douglas County in Colorado. Due to the high numbers, a meeting was organized and the grave issue was discussed at the Castle Rock town council meeting held on May 20, 2008. The meeting was convened by council man Ryan Reilly who believes that they should create a proposal that will provide more authority to the town so that they can help in reducing the number of future foreclosures and also help the existing homeowners in solving various issues related to foreclosures.

Castle Rock foreclosures have made a huge contribution to the overall tally of Douglas County foreclosures as well as Colorado foreclosures. In the second quarter of 2007, Douglas County had reported 457 foreclosures but in the second quarter of 2008, Douglas County has reported 570 foreclosed homes, which is a straight jump of 25%. Another report shows that from January to June 2007, Douglas County saw 830 foreclosures but from January to June 2008, Douglas County saw 1235 foreclosed homes, which is a straight jump of 49%. The only places to see a dip in foreclosures include Denver County with a -6% drop and Pueblo County with a -4% drop.

The increase in number of foreclosures in Douglas County can be attributed to Castle Rock foreclosures. The question is how much more will it increase and will it ever slow down? In the last couple of years, there has been a steady increase in Colorado foreclosures but experts feel that 2009 might bring some relief for ailing homeowners.

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