Sunday, October 29, 2006

The Foreclosure Hotline

by Osman Parvez


Number: 1-877-601-HOPE (4673)
What is it? Help for tens of thousands of Colorado homeowners who are delinquent on their mortgages or may miss a mortgage payment
When you should call: First signs of trouble
What they can do: Counselors can act as intermediaries between you and lenders, give you a game plan, help you organize your finances, avoid scams, reduce your potential liability, and possibly sell or keep your home.
Remember: Foreclosures lower values of surrounding homes. Every foreclosure on average costs a municipality an estimated $10,000 per home for additional costs, such as police protection. They also are magnets for crimes, such as meth labs, and ultimately will lower property taxes, hurting schools. Foreclosures are everyone's problem.



From the Rocky Mountain News




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