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Colorado Foreclosure Questions & Answers
2 Answers | Asked in Bankruptcy, Foreclosure and Real Estate Law for Colorado on
Q: Filed for bankruptcy in 2011. Abandoned and discharged my house. HOA had dues added to house after it was discharged.

According to U.S.S.C. 523 (a) (16) I did not have the intention to keep the house. The bank foreclosed on the house in 2012 and removed the foreclosure 2 months later. They later foreclosed again in 2015 and sold the house. The HOA is using a debt collector to attempt to take $3800 that was... Read more »

Timothy Denison
Timothy Denison answered on Sep 29, 2018

The debt is discharged and you do not owe it.

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1 Answer | Asked in Foreclosure, Real Estate Law and Arbitration / Mediation Law for Colorado on
Q: I want to know if Home Relief Services is a ligit company helping people with loan modification.
Thomas A. Grossman
Thomas A. Grossman answered on Aug 20, 2018

You can go online and look at their website. You can also look up reviews of this company and read them. Finally, you can access "Yelp" and review the company if you can fine it.

1 Answer | Asked in Bankruptcy, Real Estate Law and Foreclosure for Colorado on
Q: Tenants in our PA property just gave notice, and we cannot support that mortgage as well as ours here in CO. Bankruptcy?

Home in PA is a VA loan that we've had for 11 years, and is still underwater (~$60K) since the 2008 crash. We recently closed on our home here in Berthoud, CO, and have virtually no equity built up. Wife laid off last April, only on one income (mine). Our PA tenants just gave notice that they would... Read more »

Timothy Canty
Timothy Canty answered on Sep 23, 2017

Without knowing your entire financial picture, I cannot determine whether a bankruptcy would be right for you. A bankruptcy would relieve you of liability for the PA property, but I can't determine whether it would protect your other assets. Since you apparently have not lived in Colorado for at... Read more »

1 Answer | Asked in Bankruptcy and Foreclosure for Colorado on
Q: Mortgage discharged in bankruptcy. How long after deed in lieu can I get a loan?

My mortgage was discharged in bankruptcy in 2010. It's just now going through foreclosure. If I can get a deed in lieu, can I make it part of the agreement that the bank will NOT report the deed in lieu to credit agencies or report it as settled? Can they even report that since they're not supposed... Read more »

Kevin Scott Neiman
Kevin Scott Neiman answered on Jun 11, 2017

In general, the minimum waiting time after a deed in lieu to apply for a federally backed mortgage is two years. There are no mandated waiting times after for private lender. Having a hefty down payment and the funds to cover closing costs might enable you to obtain a new mortgage immediately after... Read more »

1 Answer | Asked in Real Estate Law and Foreclosure for Colorado on
Q: Regarding a foreclosure in Colorado during 2011, for what period of time thereafter can a bank pursue a claim?

Chase Home Finance

Primary Residence

Tristan Kenyon Schultz
Tristan Kenyon Schultz answered on May 16, 2017

The statue of limitations for a mortgage is 6 years. Tolling begins on either the date of default with acceleration (all come due) or maturity (last day of the final payment from the original loan documents). In other words, the exact expiration date to seek collections is based on the individual... Read more »

1 Answer | Asked in Foreclosure, Real Estate Law, Tax Law and Land Use & Zoning for Colorado on
Q: Is there anything we can do if we have paid back taxes on a property and have continued to pay to get a deed?

We have a property that my wife's parents bought and started building a house on. But they gave up paying the taxes and the property went up for an auction unless back taxes were paid. My wife and I paid the taxes and have continued to pay them. My wife's father has signed over his part of the... Read more »

Tristan Kenyon Schultz
Tristan Kenyon Schultz answered on Jul 30, 2016

You will need to contact a real estate attorney directly for advice with your situation. As a general rule, paying taxes and receiving the father's share give you an interest in the property. The mother can force a sale, but you can offer to purchase her portion. If nothing else you should receive... Read more »

1 Answer | Asked in Foreclosure for Colorado on
Q: Received letter from servicer of loan starting foreclosure then received letter from attorneys office. Stating subject

Deed of trust and if i want them to send confirmation of debt due to law state and federal laws if not then letter stated they will assume i except that info is correct. What should i do ask for modication, contact servicer or lawyer and. how can i tell if it will be non judicial or juducial they... Read more »

Tristan Kenyon Schultz
Tristan Kenyon Schultz answered on Jul 7, 2016

The location of the attorney is not suspicious (the lender likely has a contact with the attorney). This is a complex issue and requires specific review of your circumstances. You will need to contact a real estate or foreclosure lawyer. Here is a link for free to low cost legal services in Denver:... Read more »

1 Answer | Asked in Consumer Law and Foreclosure for Colorado on
Q: My home went into foreclosure in 2006, 5/6 years later some law firm contacted me on behalf of PMI, threatening suit.

Out of fear and lack of knowledge I made a few payments for the defaulted insurance. Then, due to my circumstances, the attorneys stated they would reevaluate the claim. They never contacted me again. Now, another 4 years later a new firm is representing PMI and making same threats.

What... Read more »

Tristan Kenyon Schultz
Tristan Kenyon Schultz answered on May 11, 2016

Already answered in private email communication.

1 Answer | Asked in Foreclosure for Colorado on
Q: My home is in foreclosure and will go to sale in June. After sale when will they need to be out? Their rent is < FMV
Tristan Kenyon Schultz
Tristan Kenyon Schultz answered on Apr 5, 2016

With some limitations, the bank must either assume the tenants until the lease term expires or the bank must offer a buy-out to the renters to terminate the lease early. I recommend that you notify the renters of the anticipated foreclosure because AND notify the bank of the renters because the... Read more »

1 Answer | Asked in Collections and Foreclosure for Colorado on
Q: i live in CO If I foreclose on a house and they sell,but dont get enough, can they come after me to get the rest ?
Tristan Kenyon Schultz
Tristan Kenyon Schultz answered on Apr 5, 2016

Yes, a lender can pursue a deficiency judgment (collect the difference between the loan amount and the sale price in foreclosure) in Colorado provided that certain conditions are met (if you received notice from a court, then the requirements are met). If the deficiency amount is substantial or... Read more »

1 Answer | Asked in Foreclosure for Colorado on
Q: if my house was fourclosed how long does the new owner have to let me stay there ?
Tristan Kenyon Schultz
Tristan Kenyon Schultz answered on Jan 9, 2016

I'm not sure where you are exactly in the foreclosure process. If you have only received notice of foreclosure, you may be able to stay in the home for a year or more. If the home is headed for sale/auction you usually must leave within 30-60 days from the date of notice. Some people stay after... Read more »

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