Are you one of the many families affected by the possibility of foreclosure?
CRHDC is a HUD approved Housing Counseling agency offering free
foreclosure prevention services. Our experienced, bi-lingual staff will help you understand your options and can negotiate directly with lenders for a resolution that may keep you in your home and may give you a more affordable mortgage payment.
What we do:
The Home Retention Team is dedicated to helping homeowners stay in their homes. It is important to keep mind, not everyone will qualify for a loan modification. Federal Loan Modification Programs and Traditional In-House Loan Modification Programs are currently available to protect families from losing their home to foreclosure. A Loan Modification is a permanent change in one or more of the terms of a mortgagor's loan, allows the loan to be reinstated, and results in a payment the mortgagor can afford.
Colorado Foreclosure Process:
Typically, a borrower must be three or more months delinquent on payments before entering the foreclosure process. This is the pre-foreclosure time period in which a mortgage company and its legal department will send warnings and possibly "intent to foreclose" letters.
After three months of missed payments, the mortgage company will file a Notice of Election and Demand (NED) with the public trustee from the respective county. This notice is sent to the homeowner, marking the beginning of the official foreclosure process. The NED will contain information about the foreclosing attorney, who represents the mortgage company, as well as the public auction sale date set for the property.
Following the NED, a homeowner will receive notice of a Rule 120 hearing with the district county court. This hearing determines a mortgage company's legal right to initiate the foreclosure process on a delinquent loan. This is also the cure period for the mortgage, during which a homeowner must submit an "intent to cure" notice with the public trustee.
To cure the loan, all sums due must be paid to the public trustee via certified funds no later than noon on the day before the public auction. If no intent to cure or workout is reached before this time, the property will go to sale.
Following the public auction, the homeowner may be evicted from the property. There is no longer an owner-redemption period in the state of Colorado, and the homeowner should prepare to leave the property shortly after the sale.
What We Provide
- Free Counseling and Advice
- Loss Mitigation Services
- Credit and Budget Counseling
- Financial Fitness Classes
- Hardship Loans
Our Housing Counselors
Robert Villagomez, Housing Counselor
Alamosa Office ext. 11
Elida Rubio, Housing Counselor
Westminster Office ext. 210
Ana Fontes, Housing Counselor
Westminster Office ext. 215
Ruth Offerman, Manager of Counseling and Education
Westminster Office ext. 211
Log onto www.counselordirect.com and enter promotion code CRHDC to see if you qualify for a loan modification based on your Lender's specific guidelines.
Please click here to sign up for our Foreclosure Prevention Counseling
Call today for help. Because nothing is worse than doing nothing.