Colorado Springs Vintage Homes Blog
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Abandoned pets are foreclosure victims
Don’t leave your pet behind
many buyers who are looking at buying a bank-owned foreclosed homes. As I walk into houses that are now bank-owned, I often wonder what happened to the previous owners of the house; what happened to their kids; their jobs. their pets. I always hope they are able to pick up their lives and start over.There are Options for pets
New help for Colorado homeowners facing foreclosure
f you are interested in a short sale, It’s important to utilize a Colorado Springs Real Estate Agent that specializes in Pre-foreclosures, Foreclosures, and Short Sales; and has a successful and ethical track record. Call Kathy Torline – Nordstrom, 719-287-1049.
Governor Ritter is expected to sign a new bill approved by the state Senate that will give 
homeowners facing foreclosure an 90 day window to try and work out a way to keep their homes. The bill would require the state to post a notice on the doors of foreclosed homes no later than 15 days after the foreclosure notice is delivered. The homeowner would then have five days to contact the state’s foreclosure hot line (1-877-601-hope) and set up an appointment with a foreclosure counselor. If the homeowners can prove they have income then the lender will be required to meet with them to try and work out a payment plan.
During the next 90 days, foreclosure proceedings would be suspended, although the homeowner would have to keep paying 2/3 of the mortgage payment. Mortgage brokers support the plan as they’re more interested in saving the investment than taking possession of the homes where it would show up as bad debt and that doesn’t help the lenders.
This new bill would certainly help many Colorado homeowners though not everyone would benefit. If the homeowner has no income due to a loss of a job, and they have no ability to repay the mortgage, there’s no help for them in this bill . The lenders are only required to meet with these homeowners, not come to an agreement with the owners, but many are willing to try, given all the foreclosed homes they’re carrying on their books.
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If you enjoyed reading this article, why not Kathy (719-287-1049) KTorline@msn.com
Foreclosure Assistance, help is available
I have published this article before, but I came across MANY new resources that I wanted to add
f you are interested in a short sale, It’s important to utilize a Colorado Springs Real Estate Agent that specializes in Pre-foreclosures, Foreclosures, and Short Sales; and has a successful and ethical track record. Call Kathy Torline – Nordstrom, 719-287-1049.
When many Colorado Springs home owners are in financial trouble and not making their house payments, they go into denial. They are embarrassed, and they hope that the situation will go away. The problems usually won’t solve themselves. The fact is that the sooner a home owner faces up to the situation the better. There are options out there!
One of the first steps I do is to refer Colorado Springs home owners to some of the local and national hot-lines that are now available to help home owners. I want to make sure they are as educated as possible about their options before they decide to list their home as a short-sale. I also encourage them to talk to a lawyer and/or a tax accountant. A short sale may not be the right step for them; I want them to understand all of their options and pick the one that’s best for their situation.
Colorado Foreclosure Resources
One of the best resources around is the Foreclosure Hot-Line at 877-601-HOPE. There is also a local organization called The Pikes Peak Foreclosure Partnership at 719-444-8833.
National Foreclosure Resources
There is another national organization called Hope Now at 888-995-HOPE; and one of the great feature of this web site is links to many mortgage companies web sites. If you have a VA loan, the phone # is (719) or (303) 914-5650. If you have a HUD/FHA loan, the phone # is (303) 672-5216
The goal of Read the rest of this entry »
