According to the Denver Business Journal, Colorado’s foreclosure-filing rate last month jumped up 21% from April of 2013. This after the foreclosure rate trended downward during the previous year. Each month approximately 1,350 Colorado homeowner are at risk of losing their homes.
These are the reasons funding continues for the Colorado Foreclosure Hotline. The Colorado Foreclosure Hotline connects homeowners to a HUD-approved housing counseling agency in their community for one-on-one counseling services. Hotline services are always free as well.
These dedicated and informed counselors analyze each homeowner’s financial situation and educate the homeowner on the Colorado foreclosure process, budgeting techniques, workout options, and how to communicate with the lender. Counselors often serve as the mediator between the homeowner and the lender to secure the best outcome.
According to Hotline statistics 4 out of 5 homeowners who met with a Colorado Foreclosure Hotline counselor avoided foreclosure. Avoiding foreclosures is not only beneficial for the homeowners retaining their homes, but enables HOAs to thrive, as property values stay high because associations are able to provide the necessary maintenance in order for their community to flourish.
Contact the Colorado Foreclosure Hotline at 1-877-601-HOPE (4673).
