Some push for foreclosure freeze in Colorado
the foreclosure process. The Colorado “Right to Foreclose” Amendment would require all lenders in the state to prove they own the property before they can foreclose. “A very bad idea...
But borrowers sign an agreement agreeing to pay, Peer said, something that confusion over the ownership of a loan or how a foreclosure is processed doesn’t remove. ; Colorado’s foreclosure process protects the borrower in the event that the lender foreclosing doesn’t have the proper title to the property, said Jan Zavislan, deputy attorney general for consumer protection. ; Zavislan and his staff are hoping to talk to all major lenders in the state and are gathering complaints from consumers online at the website coloradoattorneygeneral.gov/complaint.
Colorado foreclosures dive in October
Little by little, Colorado lawmakers are reining in out-of-control metro districts and homeowner associations. But much more needs to be done. We are dumbfounded that a state law is necessary to prevent these quasi-governmental boards from abusing their power of fines, fees, interest and attorney fees to take people’s homes through a lien and foreclosure process. The districts and associations exist to serve the homeowners, and yet a few bad apples have found ways to use the districts to line their own pockets and the pockets of their friends ...
Distressed homeowners in Colorado will receive $204.6 million as part of a $25 billion deal that states have reached with the nation’s biggest mortgage lenders over foreclosure abuses that occurred after the housing bubble burst. The deal announced Thursday includes principal reductions and refinancing opportunities for struggling homeowners, as well as cash payments of roughly $2,000 to owners who were improperly foreclosed upon between 2008 and 2011. The agreement ends a painful chapter that...
New foreclosure filings dropped to a 30-month low in Colorado’s metropolitan counties during February, according to a report released Wednesday. Foreclosure filings fell 26.4 percent from January to February as mortgage servicers continued to process foreclosures at an unusually slow pace in response to the “robo-signing” controversy that surfaced last fall, the report by the Colorado Division of Housing said. “The unusually large declines can be attributed, in large part, to the slowdown in processing that has continued ever since Octo ...
Homeowners associations in Colorado will be prohibited from seeking foreclosures against homeowners based on solely on fines, and they will have to adhere to a cap on those fines.
Colorado lawmakers are pursuing more regulations against homeowners associations and metropolitan districts in response to thousands of foreclosure filings on homes over unpaid fees and fines.
The Colorado Title Board today hammered out a simple and concise phrase to describe a proposed ballot initiative that would require lenders to prove they are the right party to foreclose on a property. The three-person board haggled over the phrase, parsing definitions and insinuations of words to come up with ballot language that, if it appears in November, clearly explains to voters what they’ll be asked to decide. It’s all part of Colorado’s legal process for citizens to place a measure on the ballot, a multistep process that could der ...