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Foreclosures | New Laws in Effect in the State of Colorado |
What You Can Do to Prevent a Foreclosure on Your Home
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 Homeowners do you......
Believe you are going to miss a mortgage payment with in the next 6 months?
Have already missed one or several payments?
Have your received a notice that your home is going into foreclosure?
Are you having difficulty speaking with your lender?
Have you already been contacted by someone or company telling you they will help?
Want to know some of the facts about foreclosure BEFORE it happens to you?
This is general information about new laws regarding foreclosures within the State of Colorado and some of the known foreclosure scams out there and what to be aware of.
So many Castle Rock homeowners don't understand the process and the changes here in Colorado as of 2008. Below is just a brief description. If you would like more in-depth information or would like to know what can be done to prevent a foreclosure from even happening contact our Castle Rock office today.
According to the Denver Buisness Journal, there were over 20,000 foreclosures in 2008 for the Denver Colorado area, prevention is key to alleviating potential risks of future foreclosures.
YOU ARE NOT ALONE! Addressing a problem like this is not an issue you stand alone with. There are millions of families suffering through this all over our nation. Be aware that just because the foreclosure process has started does'nt mean you have already lost your home, you still own it! Foreclosures affect many individuals and communities you have options and you may have more time to consider then you originally thought.
BE AWARE! Once the foreclosure process begins it is Public Record and anyone can view those foreclosure documents! There are those who may try and contact you and tell you a Quick Way to get rid of the foreclosure and get your house back.
You know you´re being scammed if...
1. Anyone contacts you and says they can FIX or STOP your foreclosure.
2. Anyone contacts you and claims to have your foreclosure solution.
3. Anyone contacts you with promises to CURE your default and repair your credit.
4. Anyone guarantees to buy out or give you quick cash for your home.
5. Anyone says they will buy your home and lease or rent it back to you. This is a scam in which you are encouraged to sell your home for a fraction of its current value and then rent it back until you can afford to buy it again!
Keep this in mind...
"If it sounds too good to be true, chances are....IT IS!"
Proverbs
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I know you are wondering, who would fall for that? You would be surprised what you would likely believe or how desperate you can become.
Basic Knowledge About Foreclosures in Colorado
The Colorado State law gives you the right to bring your loan current to stop the foreclosure. You must file a Notice of Intent to Cure with your Public Trustee at least 15 days before the scheduled sale date. The payment is due before noon on the day before the sale.
Glossary of Foreclosure Terms
There are ways to PREVENT a foreclosure contact our office to discuss the possibilities you have BEFORE you miss a payment on your mortgage.
Important Links you can use for additional information on Colorado foreclosures.
Colorado Housing Counseling Coalition
Douglas County Housing Partnership
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