July 15, 2010: Home Repossessions May Top 1 Million; Recharge Colorado Offers Rebates For Energy Efficient Home ImprovementsAccording to the Associated Press, there is a good possibility that home repossessions in the United States may top 1 million this year, compared to the roughly 900,000 for 2009. Historically the lenders have taken over an average of only 100,000 homes per year. Colorado ranked 10th in the number of foreclosures so far this year, with 30,177 homes foreclosed on in the first half of the year. That is up 13.6% from the first half of 2009. A lot of this increase, however, is probably because for the end of 2008 and the beginning of 2009 the lenders had put a freeze on foreclosures, and those homes are now being foreclosed on. Evergreen has 215 repossessed homes now listed for sale; Conifer has 114 repossessed homes on the market; and Pine has 76 repossessed homes on the market.
For those who are unaware of it, Colorado has a state program offering rebates for energy efficient appliances and home improvements (called Recharge Colorado), funded by the federal economic stimulus plan. A total of $18 million is available for these rebates, and only $4.8 million has been used to date. Among other things, the rebates can be used for furnaces, water heaters, insulation, solar panels etc. etc. Of the money given out so far, homeowners of Jefferson County have received the most as of June 1.
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