Co-Author: Jesse Howard Witt The 2022 legislative session brought sweeping changes to the Colorado Common Interest Ownership Act (“CCIOA”), the act that governs most homeowners associations in Colorado. In response to reports of a handful of associations aggressively enforcing fines against homeowners—particularly against lower income owners and families of color—the state’s general assembly added new … Continue Reading
As a foreclosure attorney, my staff and I constantly field phone calls and e-mails from would-be purchasers of the properties we have in foreclosure. This article attempts to set out the most useful procedures for such callers, to get the most relevant information about a particular property in 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 usually by either the current owner … Continue Reading
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 – 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
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
How To Own Residential Property With a Friend . . . Do You Want A Court To Decide, Or Would You Rather Do it Yourselves? The decline in mortgage rates over the past few years, along with the long-standing perception that real property is a good investment, has contributed to an increasingly-large pool of … Continue Reading