Are you in danger of having your home foreclosed? Do not get in deeper trouble by dealing with wolves in sheep's clothing!!! There are hundreds of people out there, who would love to get their teeth into you, with all sorts of innocent and friendly SOUNDING schemes. Here is what to do right now.
1.Contact your lender and do your best to work with them. Do not hide from them and hope the problem will go away. Document all correspondence and phone calls. Communicate by fax or certified mail so you have proof.
2.Visit your county's Public Trustee for honest information. In El Paso County go to http://put.elpasoco.com - they are in charge of the foreclosure process from beginning to end and, being a public office, they have no ulterior motives.
3.Contact the Pikes Peak Foreclosure Prevention Partnership. 719-444-8833 http://www.ppar.com/ppfpp/default.htm - they are affiliated with the local Association of Realtors in the Colorado Springs area.
4.Check out the website of the El Paso County District Attorney http://dao2.elpasoco.com/scam.asp?ifile=foreclosure
5.Contact the National Consumer Law Center http://www.consumerlaw.org/news/ForeclosureReportFinal.pdf
6.Go to Google and type in the keyword "foreclosure" and you will find some other good sites with quality information. You will also find some with terrible information, so be careful!
7.Contact an Attorney for goodness sake. YOU ARE IN TROUBLE! Deal with shysters, and you will go from the frying pan and into the fire.
8.Get your home on the market while you have a remote chance of selling it, thereby saving your equity (if you have any) and your credit. Do not put your head in the sand!
Right now, Colorado has the highest foreclosure rate in the nation. This is largely due to the fact that less than honest and non-caring lenders have been conning people into taking out foolish loans, which they cannot now repay. Interest only loans, negative amortization loans, loans with amounts in excess of property valuation, and even adjustable rate loans, have wreaked havoc on unwitting buyers. Some Financial "advisors", such as one dishonest character who is heard on radio several times per week in Colorado Springs, are telling people that Real Estate values are going thorough the roof (a lie) and that people can get rich in a hurry by taking out interest only loans (through him of course) and make huge profits.
Terry Shattuck Re/Max Properties Inc. - Colorado Springs
Terry@ColoSpgsHomes.com
719-632-6806
http://www.ColoradoSpringsHomesOnline.net
http://www.ColoSpgsHome.com