Filings For Foreclosure Drop By A Quarter In Colorado

Foreclosures in Colorado fell sharply during the third quarter, raising hopes that the state's foreclosure wave crested last year.

Colorado public trustees reported 7,261 foreclosure filings and 6,454 homes sold in foreclosure auctions during the July-to-September period, according to a report released Thursday by the Colorado Division of Housing.

That represents a 24 percent decrease in filings and a 9 percent drop in foreclosure sales from the third quarter of 2007.

Time will tell if these numbers continue to decline.