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Does a Private Party Foreclosure Differ from an Institutional Lender Foreclosure?

Private Lender Foreclosure vs Institutional Lender Foreclosure Most purchases of Colorado real estate involve some sort of mortgage financing, in order to complete the purchase. Although a majority of mortgage financing is done by banks or other lenders in the business of making loans (known as “institutional lenders”), some financing is done with a private loan … Continue Reading

Stripping Junior Liens in a Chapter 13 Bankruptcy

One of the major benefits of a chapter 13 bankruptcy is the ability of a homeowner to “strip” second and subsequent “consensual” liens – like deeds of trust – from a residence under certain conditions. This type of lien strip, sometimes more useful than the type that can only remove non-consensual liens like judgment liens, … Continue Reading

Installment Land Contracts and Lease/Option Agreements

  Installment Land Contracts and Lease/Option Agreements – DON’T DO THESE! Use an All-Inclusive or “Wrap” Deed of Trust Instead We get many calls from buyers, sellers, and real estate brokers, asking us to prepare either an installment land contract, called an “ILC” or a “contract for deed,” or a lease with an option to … Continue Reading

Builder Warranties For New Homes – What You’re Getting, and What You Are Not

  Question: I am considering buying my first new home. I have heard there is a “statutory builder’s warranty” which I will receive at closing from my builder/seller. What is this warranty, and what does it do for me? Answer: Contrary to popular belief, there is no such animal as a “statutory builder’s warranty.” There … Continue Reading