Foreclosures lowest since 2004


If foreclosures are an indication — and they are — things are looking up in El Paso County, based on the October monthly report issued today by Public Trustee Tom Mowle.

Not only has the number of new filings fallen dramatically, but Mowle's expenses also have taken a dive.

Here's his report, indicating that the region might finally be climbing out of the recession:

Foreclosure filings in El Paso County dipped in October to 128. This is the 4th consecutive monthly drop, and is now the lowest one-month total since January 2004. Year-to-date, foreclosure starts are down 44% from last year, and it looks increasingly likely that our annual total will be less than the 1932 started in 2003.

Releases of Deeds of Trust increased in October, to 3350. Year-to-date, releases are up 19% from last year, heading towards the strongest release total in many years.

The only new foreclosure filing in October with an outstanding balance over $1 million was a commercial building near South Carefree and Rio Vista.

Also attached is our 3rd Quarter financial report as delivered to the Governor’s Office. Our total quarterly expenses, $132,049.79 (against earned revenue of $282,315.19), were the lowest we have on record.


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