Colorado Home Loan Modification – Modify Your Mortgage in Colorado

Free Loan Modification Consultation

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The real estate market in Colorado is affected by the overwhelming number of foreclosed homes that are for sale. The interest in buying a home in this recent time decreased considerably, and the issue of foreclosed homes becomes a real threat for the banking sectors that supports home financing because now, they are not a source of profit. The bank greatly needs money in order to perform their daily transactions as well as offering further loans to interested clients. The institution lost the invested money from the people who defaulted on their loans because they are unable to recover it through selling the proprieties earned by seizure. Those who defaulted on their loans are now facing the difficulties in getting another loan to start a new life.

As an answer to this problem, a new law is introduced in the State of Colorado on February 18, 2009. This law states that there is a possibility of making adjustments to a previously signed agreement, especially if the mortgagor has difficulties in fitting to the requirements. If you are in this kind of situation, apply for a loan modification and prevent your home from being foreclosed.

To qualify for a mortgage modification, you have to prove that you are currently experiencing difficulties in paying the monthly rates and it doesn’t reflect to the settled percentage of your monthly income, aside from the fact that your monthly earnings decreased because of different valid reasons. You may seek professional help from an attorney; he/she will explain to you the whole process and the advantages to you. The losses involved in a foreclosure determine if the bank will re-negotiate the initial contract and offer a convenient and new terms. Before you sign the new agreement, be sure that you understand the changes made, like the new conditions. Remember that the aim of the law is to ease your situation.

The statistics provide data that the critical instances of foreclosed homes in Colorado have improved after the law is taken into action. The banks raised their standards regarding the approval of new loans to prevent future issues with the same problem. If you apply for a mortgage this time, you may suffer the same problem so it is not a good idea. What you can do right now is save money and wait for the real estate market to recover from the economic meltdown. The loan modification program gives solution to the creditors’ and debtors’ huge problems, because it is advantageous for both parties involved in the mortgage contract.

Colorado Mortgage Companies

First Federal Lending Group
1745 Shea Center Dr
Littleton, CO

Highland Way
(303) 451-6851
11310 Melody Drive
Northglenn, CO

Zip Realty Inc.
(303) 875-7447
12992 W 61st Cir
Arvada, CO

Keller Williams Realty, LLC.
(303) 995-0643
6300 S Syracuse Way Ste. 150
Englewood, CO

Stone Mountain Apartment Homes
(720) 929-1100
11625 Community Center Dr.
Northglenn, CO
4941 Allison Street
Denver, CO

RE/MAX Northwest, Inc.
(303) 457-4800
12000 Pecos St., Ste. 160
Denver, CO

Taylor Kohrs
(303) 928-1800
9351 Grant Street, Suite 500
Thornton, CO

Keller Williams-The Strange Team
(303) 668-5208
11859 Pecos Street #200
Westminster, CO

8162 E. Vassar Dr.
Denver, CO

Colorado Legal Services

Colorado Legal Services

Assistance: Foreclosure
Location: Offices in Alamosa, Boulder, Colorado Springs, Denver, Durango, Fort Collins, Frisco, Grand Junction, Greeley, Gunnison, Hayden, La Junta, Leadville, Pueblo, and Salida
Phone: Alamosa (719-589-4993)
Boulder (303-449-7575)
Colorado Springs (719-471-0380)
Denver (303-837-1313)
Durango (888-298-8483)
Fort Collins (970-493-2891)
Frisco (970-493-2891)
Grand Junction (970) 243-7817)
Greeley (970-353-7554)
Gunnison (800-521-6968)
Hayden (800-521-6968)
La Junta (888-805-5152)
Leadville (800-521-6968)
Pueblo (719-545-6708)
Salida (719-539-4251)
Services: Colorado Legal Services represents clients in foreclosure cases.

Avoid Mortgage Scams Colorado

Attention homeowners: If you think you have been a victim of a scam, or approached by a scammer, report it to the Loan Modification Scam Prevention Network now! Your complaint could provide vital information that will help put loan modification scammers out of business.

Call 1-888-995-HOPE (With your permission, the complaint will automatically be shared with federal, state and local law enforcement)