Foreclosure activity continues to decline in Colorado Springs

The Colorado Springs foreclosure picture continued to improve last month.

Foreclosure notices sent to property owners in the Springs and El Paso County totaled 99 in April, according to a report Monday from the El Paso County Public Trustee's Office. That's up 8.8% from March, but down 16.1% from the same month a year ago.

Moreover, foreclosure notices during the first four months of 2017 totaled 385, a 28.4% decline from the same period in 2016, the Public Trustee's report showed.

Foreclosure notices are sent to residential and commercial property owners who fall behind in their mortgage payments. At the height of the Great Recession in 2009, foreclosure notices in El Paso County hit a record high of 5,288.

But local foreclosure activity has declined over the last several years thanks to a stronger economy and an improved single-family housing market. Last year, El Paso County foreclosure notices fell to a 15-year low of 1,287.

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