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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

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

Walking Away From a Mortgage

Considerations Before Walking Away From a Mortgage. The Denver Post recently published an op-ed piece entitled “The Wisdom of Walking Away from Your Mortgage,” which encourages homeowners who owe more on their property than it is worth to consider simply walking away from their mortgage(s). This article, and others like it that suggest walking away … Continue Reading

Upside Down Homes in Insolvent Estates

Co-Author: Mike Smeenk, Esq. At various times during the Great Recession and its aftermath, different economists have estimated that approximately 25% of American households with mortgages are “upside down.” That is, for approximately 25% of American households with mortgage debt, the debt exceeds the property’s fair market value. While these percentages vary from place to … Continue Reading

Common Borrower Mistakes In Commercial Loan Workouts

  The strategies for commercial real estate loan workouts tend to be dramatically different than the considerations for most homeowners who are considering walking away from their home. Conventional wisdom gleaned from residential walk-aways does not cleanly apply to commercial defaults. While each case is different, homeowners tend to walk away from their home only … Continue Reading

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