Legal Question in Real Estate Law in Colorado

Foreclosure

Due to losing my wife and me going on disability my income has been reduce sharply. I can not make my payment on the house the 1st or 2nd. I saked both companies for a re-fi or forbarance and it was no from both of them.

Is a deed in lieu of forclosure better than letting the lender do a foreclouser. Do I need to get a Real Estat Lawyer to handle this?

Thanks


Asked on 2/07/08, 6:59 pm

1 Answer from Attorneys
Robert Murillo Pivotal Legal Ltd.

Re: Foreclosure

Sorry about the problems. In addition to a deed in lieu you may want to consider short sale options.

I would contact a HUD approved counseling center (Google the term) and contact the Colorado foreclosure hotline for assistance. Moreover, you may qualify for free legal assistance through CO legal services. Contact them to see.

It would help to have an experienced attorney who has good contacts with the loss mitigation department to negotiate on your behalf. Good luck.

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Answered on 2/07/08, 10:07 pm


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