The Colorado Foreclosure Hotline is an initiative designed to help homeowners avoid foreclosure. It is a partnership of various public and private agencies and businesses, including the Colorado Division of Housing and various lenders, all of whom are obviously motivated to keep people in their homes.
According to their website, the primary goal of the Colorado Foreclosure Hotline is to reduce the number of foreclosures in Colorado by developing and maintaining a current statewide call center that serves both as a consumer referral source and data repository for borrowers experiencing some form of delinquency or foreclosure.
This goal is accomplished by:
- Increasing borrower contact with the lender. This activity has been shown to be the most effective way to increase positive workouts when a borrower is faced with a delinquent mortgage;
- Implementing an intervention model that will provide a swift response to pending delinquencies by connecting borrowers with non-profit housing counselors who provide information on a borrower’s options when facing delinquency or foreclosure;
- Establishing a centralized, statewide network of non-profit housing agencies to provide mortgage and homeownership education resource for borrowers interested in homeownership education and counseling;
- Increasing the use of affordable housing technology available through the Colorado Foreclosure Hotline’s various partners.
The hotline number is 1-877-601-HOPE.
Peter Mullison is a bankruptcy attorney at Colorado Bankruptcy Law Group, LLC. If you are considering Chapter 7 or Chapter 13 personal bankruptcy, schedule your free, confidential bankruptcy consultation with a Colorado bankruptcy attorney today. Our online scheduling system allows you to schedule a bankruptcy consultation at a time that is convenient for you.
Colorado Bankruptcy Law Group, LLC is a personal bankruptcy firm serving clients in the greater Denver area.
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Sat, Jan 9, 2010
Foreclosure