Colorado’s Foreclosure Crisis Continues, But Resources Grow
In June, Rocky Mountain PBS launched a new initiative, “Facing the Mortgage Crisis,” in partnership with public radio stations across the state. RMPBS joined forces locally with KUNC-FM, community radio for Northern Colorado, and KUVO-FM, Denver’s jazz and public radio station, to connect the public with critical resources for handling mortgage questions and related issues.
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Tips for First-time Home Buyers
The New York Times presents seven tips from the experts for first-time home buyers.
Read The New York Times article

Foreclosures up in Colorado
Colorado is facing record high foreclosure rates. The highest increase in filings came in from Mesa County.
Read The Denver Post article

Denver Homes Prices Increasing
Recent economic forecasting surveys indicate that U.S. home prices increased in May. While prices are still down from this time last year, some economists say the data indicates a transition from decline to growth.
Read The Denver Post article

Foreclosed Homeowners as Renters
In an effort to keep foreclosed homes from being vacant, the government is proposing that homeowners be allowed to stay in their homes as renters after foreclosure. The glut of vacant homes in neighborhoods is bringing down property values and displacing families.
Read The Denver Post article

Tighter Mortgage Rules Restricting Buyers
“The credit pendulum is stuck at ‘stupid,’ ” says Lou S. Barnes, an owner of Boulder West Financial Services, a Colorado mortgage bank. The readiness of banks to sell foreclosed homes has squeezed out the once qualified buyer. A self-employed buyer is virtually unable to get a mortgage now. Some say the pendulum has swung too far.
Read The New York Times article

Obama Wants Greater Consumer Protection
Having to sort through all that fine print in financial contracts may be a thing of the past. President Obama has asked Congress to create a new agency to regulate consumer products such as credit cards and mortgages. The Consumer Financial Protection Agency would help increase oversight of the financial industry, according to Obama, and protect consumers when buying mortgages, using credit cards and taking out payday loans.
Read The Denver Post article

Refinancing Rules Widened
The mortgage-refinancing program for homeowners has been widened. The Obama administration is opening up the refinancing program to include homeowners whose loans are 125% of their home’s value.
Read the CNN article

Mortgage Crisis Stories from Reunion
Over speculation is taking its toll on Colorado. U.S. News and World Report highlights the situation in Reunion, a planned community near Denver’s international airport, in these powerful photographs and narratives.
View the U.S. News and World Report slideshow

Foreclosures Transforming Neighborhoods
Foreclosures are impacting lives and neighborhoods across Denver. This USA Today article from 2008 features stories of people who’ve been affected by the housing crisis.
Read the USA Today article

One Response to News

  1. Salutations:

    For almost a year, I have been attempting a loan modification from Wells Fargo. I have gone through the proverbial hoops of fire. My family incurred medical expenses in addition to lack of funds form my previous husband. I finally had a ray of hope in May reapplied for a mod and than was unexpectedly laid off from my position. My department was terminated.
    ?A month goes by and Wells Fargo tells my request was denied. That the investor, Wells Fargo, thinks I am a risk and will not enter any agreements to help me stay in my home. Then the foreclosure notices come. Castle, Meinhold and Starwaski LLC starts the process quickly. And the I call Foreclosure hotlines and counselors and need an advocate. I do not want to loose my home. My daughter is doing really well and the question remains – where would we go from here. Where do people live? Why will the bank not consider options while someone is unemployed.
    I do not qualify for assistance. No food no TANF. My unemployment is $200 dollars too high. I do not qualify for housing assistance from the bank because now my income is too low. I am in more debt and in fear of being homeless with my teen daughter. Where do we go from here? I do not have relatives to move in with.
    Where do we go from here? Anyone

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