Brian Sells, Certified Distressed Property Expert, RE/MAX Masters
303-660-1435 office * 1-866-553-2310 toll free * thesellsteam@msn.com email
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To Avoid Foreclosure in Colorado?
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What is a Distressed Property?
There are many factors that can cause a homeowner to find themselves in distress. Especially in today's climate of economic turmoil.
1. Payment increase or mortgage adjustment
2. Loss of job
3. Business Failure
4. Damage to Property (lack of insurance and inability to make repairs)
5. Death of a Spouse
6. Death of Family Members
7. Severe Illness
8. Inheritance (beneficiary unable to cover bills, utilities, maintenance of property)
9. Divorce
10. Separation
11. Relocation (inability to support two households)
12. Military Service (extended active duty)
13. Insurance or tax increase
14. Reduced income
15. Too much debt
16. Incarceration
What is the Difference between a Short Sale vs. Foreclosure?
What does it mean when a homeowner is "Short" on the closing?
When a borrower owes an amount on the property that when combined with closing costs and commissions, is higher than the current market value.
A Short Sale Occurs when:
A negotiation is entered with the homeowner's mortgage company or companies to accept less the full balance of the loan at closing. A buyer closes on the property and the property is sold "Short".
A Foreclosure Occurs when:
There is a legal proceeding by the lien holder in which they take back the property in order to recover the amount owed by the homeowner.
Important Articles and Links to Information on Foreclosure in Colorado
RealtyTrac: Colorado 9th in Foreclosure, Denver Business Journal May 2009
Each State has its own foreclosure law. It is important to educate yourself to the foreclosure process in Colorado. Colorado Foreclosure Laws Summary according to www.foreclosurelaw.org
Colorado Down in First Quarter, Colorado Business Journal, May 11 2009
Colorado Division of Housing 4th Quarter 2008 Foreclosure Report, Click here
GOV. RITTER ANNOUNCES FORECLOSURE ASSISTANCE, Feb 9 2009
Douglas County Foreclosure Information
Arapahoe County Foreclosure Information
Jefferson County Foreclosure Information
There May Be Time Left to Avoid a Foreclosure!
As a trained Certified Distressed Property Expert (CDPE), Brian Sells with RE/MAX Masters in Greenwood, Colorado, can help talk with homeowners in distress to discuss all possible options available to avoid foreclosure. Call today for a confidential conversation to learn how Brian and his team can help. 303-660-1435.
Don't Let Time Run Out. You Have Options.
Brian Sells CDPE, CRS, CLHMS, CCIM, GRI
RE/MAX Masters
6400 South Fiddlers Green Circle STE 100
Greenwood Village, CO 80111
Toll Free: (866) 553-2310
Business: (303) 660-1435
Cell: (303) 877-8005
Fax: (303) 771-6944
E-Mail: thesellsteam@msn.com
Content copyright Brian Sells. We're Fair Housing Providers.
All rights reserved. Information may not be duplicated without permission. We do not assume responsibility nor guarantee accuracy of information. We are not engaged in the practice of law nor do we give legal advice. We insist that all clients meet with a tax advisor and/or attorney BEFORE entering into a short sale.
