Colorado Springs & Foreclosure Help

By now, everyone, or at least most of us, have heard about the housing market. How it’s not doing well, it’s in a crisis, the prices are dropping, homes aren’t selling and in general it’s in a downslide.

If you’re secure in your job and with your payments – you probably have less worries, than someone who might have lost their job or is stuck with an adjusting mortgage rate. If that’s the case – foreclosure might have crossed your mind. But before you stop making payments, check out the following resource link: Pikes Peak Foreclosure Prevention Partnership.

This site is dedicated to help you prevent foreclosure. The biggest issue is waiting too long – and hoping that it’ll work itself out. If you are foreseeing a time, when you are unable to make your house payment, contact the Foreclosure Prevention Hotline and talk to specially trained people. A number of resources are given on the site as well – just keep in mind – not all of them work free of charge.

If it’s not you that needs help – but you know of someone who does – please direct them to the Pikes Peak Foreclosure Prevention Site.

Colorado Foreclosures Down

According to an Article in the Rocky Mountain News, Colorado finally relinquished the Number One Spot in regards to Foreclosures, after leading the pack for nine out of twelve month last year. Colorado posted a total of 2397 homes that are in some state of foreclosure.

If you or someone you know is concerned about the possibility of going into Foreclosure, the Colorado Division of Housing has a Foreclosure Hotline to call and all assistance will be provided free of charge.
They encourage anyone who might be in the following situation, to call:

1. If you have not yet missed a mortgage payment but might in the near future
2. If you have missed a mortgage payment
3. If you have received a notice of foreclosure
4. If you have trouble communicating with your lender.

If you have questions about the foreclosure process (how to stop the foreclosure, where do you stand, what can you do) or if you are considering selling to keep your home’s equity, please don’t hesitate to contact me.

Colorado Springs Real Estate Information brought to you by the Colorado Highlands Group