Denver foreclosures sales among lowest in nation, but prices rise

Fewer homes are in foreclosure in the metro area as those that are command higher prices.

DENVER - Fewer homes are in foreclosure in the Denver metro area, and those that are command higher prices. 

The city clerk's office says a lot of the money is going back to the homeowners. 

According to a new report released today by financial services company, CoreLogic, the Denver metro area has one of the lowest foreclosure rates in the nation. 

It's one of 11 that have a .1 percent foreclosure inventory rate. 

545 new foreclosure cases were filed in Denver through the end of October 2017. That's down 10 percent from the same time in 2016. 

The city clerk says $2,379,500 in excess funds from those foreclosure sales were given to the original homeowners this year. 

"That is where the property is sold at auction, higher than what is owed, and that difference is going back to the homeowner," said Denver Clerk and Recorder, Debra Johnson. 

Hundreds of thousands of dollars in excess funds are still unclaimed in Denver.  Excess funds are held for six months from the sale of the property.

If they are are not claimed within six months, the excess funds are transferred to The Great Colorado Payback

$612,159 in unclaimed excess funds was turned over to The Great Colorado Payback so far in 2017. 

The Great Colorado Payback holds unclaimed property until the rightful owner(s), or heirs, claim it.

The Office of the Clerk and Recorder has a list of names of people who have unclaimed funds on its website. 

© 2017 KUSA-TV


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