About Yuma County, CO

Summit County Foreclosure Update for 2010

In 2010, there have been 530 foreclosure actions; 324 with fee simple (100%) ownership, and 109 for timeshares. The other 97 are unknown. Thirty-one of these occurred in December 2010. One Two hundred of the 530 are in Breckenridge (but note, that all timeshares are in Breckenridge, so 109 are timeshares). Forty-five are in Silverthorne; 35 in Blue River; 25 in Frisco, 23 at the Breckenridge Golf Course, 19 in Wildernest and Keystone and 18 in Dillon Valley.

In 2009 the Summit County Treasurer's Office issued 86 Public Trustee's Deeds and in 2010, 148 of the deeds were issued, an increase of 72%!

The breakdown of the type of foreclosure actions are as follows. There have been 367 Notice of Election and Demands which is the first step in the foreclosure process. This starts the foreclosure timeline and is not yet a sale of the property. There have been 15 Certificate of Purchase actions which is where the Public Trustee offers the property at public auction. Any purchaser must pay more than the debt itself owed to the lien holder filing the foreclosure action plus any fees. The purchaser has the duty to research whether there are any other outstanding liens on the property. There has been 148 Public Trustee's Deeds in 2010. This is the stage of the process where the holder of the Certificate of Purchase obtains ownership of the entity. Most often this is the bank holding one of the liens.

In terms of property types, 144 single family homes, 140 multifamily units, 23 parcels of vacant land, 7 developments, 9 commercial properties, and 110 timeshares in Summit County had foreclosure actions filed against them in 2010.

If you have any questions about short sales, bank-owned properties, or foreclosures in Summit County, Colorado, please email me at anakos@landmarkregroup.com, or call me at 970-389-8388.

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