Back Against The Wall?

As you have read, foreclosures throughout the country and in Colorado are up.  In fact, the Federal Government as well as many State's have started passing new legislation and creating new tools to help homeowners who are at risk of losing their homes.

In Colorado the best site to learn more about foreclosures, short sales and your options is www.ColoradoForeclosureHotline.org .  A couple of tips when you find yourself in this situation or approaching it;

1. Don't be embarrassed.  You are not alone.  Contact the www.ColoradoForeclosureHotline.org or confide in your real estate agent so they can help you create a plan.
2. Act.  The worst thing you can do is nothing.  A problem this size won't just go away, it will only get worse.
3. Be absolute certain.  Just because someone told you something doesn't mean it is right.  Contact an expert.  If you don't know one go to www.ColoradoForeclosureHotline.org or contact me so I can direct you to a reputable and ethical adviser.

Remember, there are many people out there waiting to prey on people in dire straits.  Don't let your bad situation get worse.  A couple of quick examples of this are;

• Do not Quit Claim your Deed without having a Real Estate Attorney YOU hired look at the agreement.  There are "sharks" out there willing to pay some owners in foreclosure thousands of dollars for a Quit Claim.  It may be a good option for you, but it very well may not be.
• A Short Sale may not be better than a Foreclosure.  Many financial institutions these days consider a short sale and a foreclosure on someone's credit to be equally bad.  A short sale becomes a taxable event.  Be sure to consult a real estate attorney before agreeing to a short sale or going into foreclosure.

If you need a real estate attorney, I have several excellent real estate attorney's to refer you to.  Call me.