Colorado mortgage assistance and foreclosure help programs.
You can find help in Colorado for paying your mortgage and you can also get foreclosure assistance. Advice, counseling, and financial aid is available in all cities including Denver and Colorado Springs.
Colorado Foreclosure Hotline
Colorado has established a mortgage foreclosure hotline. The number is 1-877-601-HOPE.
The Colorado Foreclosure Hotline will help connect homeowners with mortgage counselors who can provide information on all of a borrower’s options when they are facing foreclosure. These counselors can also act as facilitators for communication about bills and mortgage loans between the borrower and lender. Colorado encourages any borrowers that may be experiencing the following situations to call the hotline for support and possible aid:
1) Borrowers who currently behind on their mortgage payments.
2) Even borrowers who have not yet missed a mortgage payment, but who may be concerned that they may fall behind or miss a future payment should call.
3) If you have received a mortgage foreclosure notice from your lender, then call right away. If you delay asking for help then your chances of success are greatly reduced.
4) Borrowers that are having trouble communicating with their mortgage lenders or servicer should call government program. So if your bank will not get back to you, seek help from the hotline.
The state also encourages borrowers to take advantage of the many mortgage assistance programs that are offered from the federal government and private banks.
Non-profit organizations that provide counseling
The state of Colorado has several non-profit HUD certified counseling agencies that homeowners can contact for free mortgage delinquency counseling and foreclosure help. Find a listing of Colorado housing agencies.
Denver housing counseling agencies
Homeowners in both the county and city of Denver can contact one of many different foreclosure and/or non-profit housing counseling agencies for free advice and services. The non-profits will do their best to provide families with solutions to their mortgage difficulty, and try to save their home. Get details on Denver foreclosure prevention agencies.
Colorado law that delays foreclosures
The state of Colorado has instituted a new law that will provide most homeowners an additional 90 days to keep their homes out of foreclosure. The delay will help families negotiate deals with their banks and lenders with the goal of stopping the foreclosure process. It also provides time for someone to work with a professional counselor or lawyer. For example, the foreclosure law will now give homeowners extra time to modify, negotiate, or refinance their existing loan.
Or people have time to sign up for government programs. So even if someone can't afford to pay the entire payment on their mortgage, they may be allowed to make partial payments, pay a portion of their loan, and even ideally keep their home. Read more on the new law to delay foreclosures in Colorado.