Legal Question in Securities Law in Colorado

Deed of Trust in lieu of foreclosure

I have been a mortgage underwriter 16 yrs. and just lost my job. Mortgage crises has all but eliminated mortgage positions. I have a house I can no longer afford and I live in a very small community with very limited employment opportunities. I am current on my mortgage payment but my savings run out end of October. It has been suggested I do a deed of trust in lieu of foreclosure with no recourse. Can I do this?


Asked on 9/11/07, 3:30 pm

1 Answer from Attorneys
Robert Murillo Pivotal Legal Ltd.

Re: Deed of Trust in lieu of foreclosure

Afternoon,

Sorry to hear about the problems. You can certainly try to do a deed-in-lieu or a short sale to avoid foreclosure.

I would advise you to contact the Colorado foreclosure hotline to see about options and advice. Here is the site http://www.dola.state.co.us/cdh/foreclosure.htm. Talk to legal counsel about any documents. Good luck.

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Answered on 9/11/07, 3:47 pm


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