Not exactly a good time to own a mortgaged home in Weld County,Colorado, especially if you have an adjustable rate mortgage and are now facing escalating payments.
CBS News reports that the county is leading the entire country in foreclosures, 1 in every 168 households. That, says CBS, is 700 (that’s seven HUNDRED) percent higher than the national average.
“Almost overnight,” one real estate agent told CBS, “it’s like somebody turned the lights off.”
Nationwide, says the network, more than 300 thousand properties entered foreclosure during the 3rd quarter…and that, says CBS, is up 43 percent from just one year ago.