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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

How Does Seller Financing Work?

How Does Seller Financing Work in Colorado Real Estate Deals? Q:  I’ve listed my home for sale. A potential buyer is interested, but can’t qualify for a loan. Is there some way to facilitate the sale without an outside lender being involved? A:  Yes – if the seller acts as the lender. This article will describe seller … Continue Reading

Death Of The Reverse Mortgage Borrower

Left In The Cold? Rights Of Lenders, Heirs & Surviving Spouses Upon The Death Of The Reverse Mortgage Borrower Overview of Reverse Mortgages A reverse mortgage can provide a source of income for elderly individuals while allowing them to stay in their home. Many elderly individuals have much of their wealth tied up in the … Continue Reading

Lender Lien Priority Disputes

Colorado Court of Appeals Helps Clarify Lender Lien Priority Disputes With the downturn in the economy beginning in 2008 and corresponding uptick in lender foreclosures and collection actions, Colorado courts have been revisiting the arena of secured transactions. In certain cases, competing lenders have skirmished over the assets of a common borrower. These skirmishes can … Continue Reading

Dodd-Frank, Consumer Financial Protection & Owner Financing

What do Dodd-Frank and Consumer Financial Protection Bureau Regulations Mean for Owner Financing in Colorado? The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) introduced a host of new regulations designed to protect consumers and avoid another housing collapse. Key components of Dodd-Frank were designed to create greater certainty that borrowers can repay their … Continue Reading

Legal Issues When Interest Rates Rise

Legal Issues When Interest Rates Rise Webcast 6/24/13: You Don’t Know What You’ve Got Til It’s Gone: Legal Issues When Interest Rates Rise.  Mortgage Interest Rates have been generally declining for nearly three decades. Many of us have never experienced the legal problems driven by rising interest rates. Learn how to anticipate, avoid, and sometimes … Continue Reading

Owner Carry Financing in the SAFE Act and Dodd-Frank Act Era

Co-Author: Julie A. Jacobs, Psy.D., J.D. Part II: Owner Carry Financing and Prepayment Penalties under the Dodd-Frank Act The Consumer Financial Protection Bureau (CFPB) promulgated a far-reaching new regulation in January, 2013, which will become part of the current Regulation Z. A portion of the regulation implements section 1414 of the Dodd-Frank Act which limits prepayment penalties … Continue Reading

Loan Modification Anatomy

Many homeowners ask about the criteria for obtaining a loan modification through their existing lender. I have successfully assisted dozens of borrowers in obtaining modifications. This article will summarize some of the key characteristics of a successful loan modification request. However, before proceeding through these steps, borrowers may wish to contact their lender about a … Continue Reading

Statute of Limitations on Colorado Home Loan Default

The Statute of Limitations on a Colorado Home Loan Default Probably Isn’t What You Think. Q:  What is the statute of limitations for lenders to pursue borrowers in Colorado who default on a home loan? A:  Six years. Conventional wisdom has been that collection actions had to be brought by lenders within six years from the date … Continue Reading

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