Denver Condos and Townhomes

head_left_image

Colorado Foreclosures: Failed Bill May Get 2nd Chance This November

Some interesting news on Colorado Foreclosures today. A bill was recently proposed in the state legislature that would have required lenders to prove that they had a right to foreclose on a home prior to initiating foreclosure proceedings. This bill was killed in the legislature, but backers are now trying to get it on the State Ballot for this November.

From The Denevr Post:

The ballot initiative — called the Foreclosure Due Process and Fraud Prevention Initiative — squarely takes on Colorado law that uniquely allows for "no-doc" foreclosures, where lenders can take a home without ever having to prove they have that right.

"In other states, courts are scrutinizing whether the foreclosing party has the right to foreclose and concluding that in most cases (they haven't) demonstrated that right with proper documentation," said Debra Fortenberry, a Colorado Springs attorney who helped draft the initiative with Brunette and the Colorado Progressive Coalition.

"In Colorado, there is nothing to scrutinize," she said.

No other state allows for a foreclosure without the lender first proving it is the right entity to do so. Colorado allows foreclosure lawyers to sign a "statement of qualified holder," which basically says they think their client owns the note or mortgage without ever actually seeing it — a practice some states have labeled as "robo-signing."



Read more: Failed bill on foreclosure filing in Colorado may get second chance on November ballot - The Denver Post http://www.denverpost.com/business/ci_20287488/failed-bill-foreclosure-filing-colorado-may-get-second#ixzz1qdS7MqRq
Read The Denver Post's Terms of Use of its content: http://www.denverpost.com/termsofuse

We'll be watching this proposed ballot initiative every carefully of the next few months. There is a hearing scheduled for April 6th at the Legislative Council. If it passes this first step, the proposal will need over 87,000 signatures to get on November's ballot. We'll keep you posted on this, and any other news for Colorado foreclosures.

In the meantime, if you would like to talk to one of our agents about Colorado foreclosures, HUD homes or any real estate issues, give our team a call at 303-726-1874.

 

.

 

Denver Area Foreclosure and HUD House Searches:
Aurora Foreclosures and HUD Homes, Arvada Foreclosures and HUD Homes, Brighton Foreclosures and HUD Homes, Broomfield Foreclosures and HUD Homes, Castle Rock Foreclosures and HUD Homes, Centennial Foreclosures and HUD Homes, Commerce City Foreclosures and HUD Homes, Denver Foreclosures and HUD Homes, Englewood Foreclosures and HUD Homes, Golden Foreclosures and HUD Homes, Highlands Ranch Foreclosures and HUD Homes, Lakewood Foreclosures and HUD Homes, Littleton Foreclosures and HUD Homes, Northglenn Foreclosures and HUD Homes, Parker Foreclosures and HUD Homes, Thornton Foreclosures and HUD Homes, Westminster Foreclosures and HUD Homes

 

 

0 commentsBrian Petrelli • March 30 2012 02:04PM
Colorado Foreclosures: Failed Bill May Get 2nd Chance This November
share
Some interesting news on Colorado Foreclosures today. A bill was recently proposed in the state legislature that would have required lenders to prove that they had a right to foreclose on a home prior to initiating foreclosure proceedings. This bill… more
Denver Homes Prices up from 2011; 1st Year-Over-Year Rise in 19 Months
share
Some more good news for Denver homes today. According to the latest S&P / Case-Shiller Home Price Index, for the first time in 19 months, the Denver metro area has posted a year-over-year increase in Home Prices. Again, this news adds to the… more
Littleton Townhomes: 2 Great Littleton Foreclosures
share
With the severely reduced inventory of Littleton townhomes we're seeingn fewer and fewer Littleton foreclosures in the under $100, 000 price range. This week, HUD released a two bedroom townhome in Dutch Ridge Littleton that is priced at only $62… more
Castle Rock Homes for Sale: Where Are The Castle Rock Foreclosures?
share
Our team watches the market for Castle Rock homes for sale very closely. Several of our team members live in and around the area and we are always looking for great deals on Castle Rock foreclosures for our clients. This task has become much more… more
Littleton Foreclosures: Only One HUd Home Available
share
Summing up the dramatic shift in inventory we've seen over the last few months, today we present the entire inventory of Littleton Foreclosures listed by HUD: 1. That's correct, while in recent months a search of Littleton homes for sale would turn… more
Denver Foreclosures: Foreclosure sales at 5-year low in Colorado…
share
More news today on Denver Foreclosures confirming what we've been reporting regarding inventory of Denver homes for sale While filings were up slightly, the actual sale of these filing fell to a five year low. Some of this has to do with banks… more
Denver Foreclosures: $25B Foreclosure Settlement with Wells, Chase,…
share
More big news for Denver foreclosures : In the largest industry settlement since the US settled with the tobacco industry, 49 state attorneys, including John Suthers of Colorado, filed the $25 billion agreement in court on Monday agreed to last… more
Fewer Denver Luxury Homes on the Market
share
More news on the declining housing inventory; this time for Denver luxury homes The numbers today for luxury homes is nearly identical to the number earlier this week for all of the Denver homes for sale. Earlier this week, we reported that year… more
Denver home prices up from year earlier in Jan., Dec. - Includes…
share
When reporting market trends on Denver homes for sale many companies will compute numbers by excluding all Denver distressed properties from their figures. This can lead to an overoptimistic picture of the true home market. Today, however,… more
Denver Homes for Sale: Inventory Down 33%
share
More supporting statistics out today confirming what we've been reporting since October - the inventory of Denver homes for sale has decreased drastically. The latest statistics show that the inventory available now, is down 33% from where it was… more