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Avoid and Stop Foreclosure in Denver

Posted on: August 24th, 2016 by , No Comments

avoid and stop foreclosure

Avoid and Stop Foreclosure in Denver

Avoid and Stop Foreclosure in Denver. Has your ARM reset to a rate you can’t afford? Have you experienced some sort of financial setback? Are you facing foreclosure in Denver Colorado?

Don’t worry you don’t have to foreclose your home. There is a fast solution to your problem! In this article you will learn how to avoid and stop foreclosure proceedings and how to get help from the government. We will closely look at all processes and help you get back on track fast.

But first thing’s first in how to avoid and stop foreclosure in Denver.

What is foreclosure?

Foreclosure is an auction which occurs when the homeowner fails to pay the mortgage. If it can’t be sold at an auction, it becomes a part of the lending institution.

Types of foreclosure

Zillow Foreclosure Center identifies two types of foreclosure – judicial and non-judicial

Judicial Foreclosure:

  • A civil lawsuit is formed against the borrower.
  • Everything is handled by the legal court system.
  • A notice of pendency is performed.
  • The court agrees or disagrees on the lender’s decision of foreclosure.
  • The notice of sale is published.
  • The process takes from 4 to 8 months.


Non-Judicial Foreclosure:

  • A deed of trust conveys an interest in real property to a third party to hold as security for repayment of a debt.
  • The trustee is able to begin foreclosure.
  • Notice of Default is recorded and the borrower is given a deadline to repay what he owes or object.
  • A Notice of Trustee’s Sale is recorded and the auction is decided on.
  • The process takes up to 12 months.

How to avoid and stop foreclosure?

If you have current difficulty in paying your mortgage, contact your loan servicer immediately. Federal Deposit Insurance Corporation states that you have to make sure you work directly with your servicer or counseling agency. Offers which are too good to be true are usually a scam. Stay safe and trust only reputable services. The direct source is always your best resource.

You should also carefully study your budget – track your expenses and see which spending you can minimize.


How to get help from the government

U.S department of Housing and Urban Development presented several programs, implemented by The Obama Administration, which will help you avoid foreclosure. The list includes Making Home Affordable © (MHA) Program. Its strategy is to “help homeowners avoid foreclosure, stabilize the country’s housing market, and improve the nation’s economy.” Companies like Federal Deposit Insurance Corporation also work towards helping you make easy and affordable repayments to your home.

How to stop foreclosure?

UAC (Urban Affairs Coalition) created a Resource Guide which will help you save your home. The guide features up-to-date information on how to avoid and stop you from losing your home.

Here are some tips on how to save your home:

  1. Contact the lender as soon as possible.
  2. Consider loan modification, a repayment plan, a reinstatement, forbearance and any other options available to you.
  3. Refinance your loan.
  4. Sell your home.

If the fourth option seems the best, you’re in for a treat. I buy houses fast and for cash. Within 24 hours of filling out the form you can have a cash offer in your hand. Not only do I pay cash for houses, but I can take that house off your hands in just a matter of days as stopping foreclosure is an urgent matter.


“How Can I Save My Denver Colorado House?”

According to the Denver Office of the Clerk and Recorder:

“Absent a renegotiation of the loan between the lender and borrower, the borrower may stop the foreclosure process by “curing” the default. This means the borrower may bring the loan up to date by paying the outstanding loan default.

The lender provides the cure amount, which may include past payment amounts due and owing, late fees, interest, attorney fees, Denver Public Trustee fees, and any other fees and charges associated with processing the foreclosure.”

Here’s how to File an Intent to Cure

  • Intent to Cure forms may be obtained on the Forms page, in person at the Public Trustee office, or at a local office supply store.
  • An Intent to Cure form must be filled out and signed and turned in to the Public Trustee. If it is signed in the presence of Public Trustee personnel, it need not be notarized. Otherwise, it must be notarized before it can be accepted by the Public Trustee.
  • Faxed Intent to Cure forms cannot be accepted.
  • There is no filing fee.

Cure Deadline

Homeowners must file at least 15 days before the current auction date of their property in order to be guaranteed timely receipt of payment figures. For an Intent to Cure filed after that date, the lender’s attorney is not legally obligated to provide cure payment figures.

Help for veterans

I buy houses all over Denver Colorado so in most cases I can reach out to you on the same day you submit the form. I understand the difficulties of being a veteran and this is the last thing a veteran needs. But I’m ready to make your life a lot easier. Get your quote and sell your house today. The fastest service you can reach me at is my phone: 303-997-2045

Foreclosure Information for Homeowners

(Click here for Spanish Information for Homeowners)

Disclaimer: This blog is for educational purposes only. Please seek legal counsel and professional advisement for help with your property on how to avoid and stop foreclosure.

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