Foreclosure activity rises in Pitkin County; down in Colorado |

Foreclosure activity rises in Pitkin County; down in Colorado

Wyatt Haupt Jr.
The Aspen Times
Aspen, CO Colorado

ASPEN – Foreclosure activity in Colorado decreased 15 percent last month, when compared with the same period a year earlier, suggesting the state’s housing market is stabilizing, industry data shows.

A total of 4,876 properties in the Centennial state were in some form of foreclosure in May, according to RealtyTrac Inc. The Southern California-based firm monitors such activity.

That translated to one foreclosure proceeding for every 436 households in the state in May.

Even though foreclosure activity was down, the state had the eighth highest rate in the nation last month. Nevada ranked first, followed by California and Florida. Data were released last week.

In Pitkin County, the number of properties entering foreclosure climbed to 11 last month from three in May 2008. Among the more notable foreclosures was a home belonging to Pamela Anne Phillips.

The home entered foreclosure proceedings May 13. The unpaid balance is listed at $4 million. The home is located in the 700 block of Meadowood Drive in Aspen, county documents show.

Phillips is wanted in Arizona in connection with the alleged murder of her ex-husband, Gary Triano.

He was killed Nov. 1, 1996, when his Lincoln Town Car blew up in the parking lot at the La Paloma Country Club in Tucson. Authorities believe that Phillips paid $400,000 to Ronald Young to kill her ex-husband in order to collect on a $2 million life insurance policy. Phillips and Triano were divorced in 1993.

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