An article from The Denver Post, reports that the Colorado Housing and Finance Authority looked at areas where residents were calling in to the Colorado Foreclosure Hotline and areas with high foreclosures between Nov. 27 and April 4. Of the 11,633 foreclosures started in that time frame on $2.2 billion worth of loans, the CHFA found seven ZIP codes where people were not seeking help. Included in that list is 80010, the Fitzsimons area of Aurora; 80017, the Buckley area of Aurora; 80916, Peterson Air Force Base near Colorado Springs; 80204, the Invesco Field area of Denver; 80239, the Montbello area of Denver; 80631, north Greeley; and 80134 in Parker. According to CHFA spokeswoman Jerilynn Martinez, Gov. Bill Ritter will be featured on postcards sent out, to distinguish them from the flood of solicitations sent to people in foreclosure. On Monday, Gov. Ritter declared this week "Foreclosure Prevention Awareness Week" to promote awareness of the foreclosure hotline.
http://www.denverpost.com/business/ci_9007106
Hi Jude,
There are a lot of contributing factors to this. In my experience, these are the top three:
1) Foreclosure Prevention Companies are getting a bad "rap" because a majority of them are charging outrageous fees to the homeowner for their services.
2) Most non-profit organizations that offer assistance are run by the very mortgage companies and bankers that helped cause the situation. (H.O.P.E)
3) Sadly, people let fear and embarassment cost them their most valuable asset.
Sincerely,
Tracy Layne
Freedom Financial Group
"Saving Homes is Our Business"