The Rocky Mountain News reports from Colorado. "Colorado on Wednesday launched the nation's first statewide foreclosure hotline, which came out on the same day a national study said the state continues to be plagued by the highest foreclosure rate in the country."

"The hotline is expected to help at least an estimated 40,000 homeowners in some stage of foreclosure in Colorado, said Zach Urban, program manager for Denver-based Brothers Redevelopment."

"The attorney general's office is going to contribute money it receives from lender Ameriquest as part of a $295 million national settlement involving predatory lending practices. The Colorado Association of Realtors is contributing $30,000, and JPMorgan Chase is kicking in $12,500, said Kathi Williams, division director of the state's Division of Housing."

"The $500,000 cost may seem like a large amount but could stem the tide on a problem whose impact goes beyond the 14,205 foreclosures reported through September, a 32.3 percent increase from 2005, according to the Division of Housing. 'We're trying to stop the bleeding,' Williams said."

"She said a lack of price appreciation in homes, risky creative financing such as adjustable rate mortgages and interest-only loans, slower economic growth during the past few years, predatory lending practices, and scams are contributing to rising foreclosures."

"Urban said the cost of foreclosure is costing taxpayers. 'We had the University of Colorado-Denver last year study the cost for us, and they found on average it costs a municipality $10,000 per home,' he said. Williams said that in Pueblo, for example, vacant foreclosed homes were being used for meth labs."

"Mike Rosser, a retired mortgage banking executive, said that foreclosures often cost lenders $35,000 to $50,000 on each home. 'They also drive down property value, which means less is collected in property taxes,' he said."

"Two men get out of a truck in front of Border Street's second summer foreclosure. The men work for a company hired by the bank. 'I'm out of Wyoming' the man says, moving quickly through the empty house. 'They got me down here in Denver 'cause the foreclosures are so bad. There are 60 guys doing what we do in Denver and the area around here.'"

"This is the seventh or eighth house of the day, he says, 'and we're not done yet. We're so far behind it's not even funny. It's busier now than it ever was.'"

"'Yeah, we moved out,' one of the sons says. 'We couldn't pay the bills. We're just going to leave it to the bank. We're done with this.'"

"Local economists have been tracking El Paso County foreclosures. They say 25 percent of all foreclosures between 2003 and last July were in zip codes 80911, 80916 and 80906. In zip code 80864, in southeastern El Paso County, almost one-third of all homes are in various phases of foreclosure."

"UCCS economist Fred Crowley said residents of the area have higher commuting costs, and many purchased homes when variable mortgage rates were low."

"A report said that for the second consecutive month, Greeley has the highest foreclosure rate among the 252 metropolitan areas it surveyed and Colorado continues to lead the nation in terms of the foreclosure rate. In September in Colorado, one out of every 408 homes is in some stage of foreclosure."