If you are facing foreclosure in Colorado, first know that you are not alone. Many good people have found themselves with financial difficulties, and have faced foreclosure, due to the current economic collapse. You are one of thousands of people dealing with this very serious problem of foreclosure, just in Denver alone.
What can you do to avoid foreclosure?
There are several options you may be able to use to avoid foreclosure on your home. I can work with you to answer your questions to determine the best option to avoid it. I will do this free of charge, all you have to do is call me.
You may be able to avoid foreclosure on your home by refinancing your mortgage but most of the time this is not an option, especially if you have been more than 30 days late on a mortgage payment in the last 12 months. However, some homeowners may be able to refinance their mortgages with more favorable terms, especially if their financial difficulties were temporary or medical. Obviously, if this is an option for you, it is one of the best ways to avoid losing your home in to foreclosure. The government has made a lot of new rules and is offering new programs to deal with this, so there may be help.
If refinancing your home is not an option, you may be able to avoid foreclosure on your Denver home with something known as a “short sale.” This would involve selling the home for whatever you can get for it and less than what you owe. The bank would then accept that amount in full payment of the mortgage. We can help you determine whether a short sale might be the best way to avoid foreclosure and help your credit for the next time around.
There are other methods for avoiding foreclosure, including renegotiating, or modifying your mortgage with the lender. The most important thing to remember is that not every method for avoiding foreclosure works for every homeowner. You probably cannot navigate this path alone.
Call me today and I will help you determine the best way to save your home, if possible, and to avoid foreclosure, at best. I understand that you have worked very hard, and put an enormous amount of time, effort and money into your home. I know that times are tough. So if you just have a question and even if you don’t know me, feel free to call and I’ll do my best to help you.