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How to Buy a Property in Foreclosure

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.

Does a Private Party Foreclosure Differ from an 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 usually by either the current owner … 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

The “Produce the Note” Foreclosure Defense in Colorado

Co-Author:  Tasha J. Power, Esq. Question: I have seen news reports explaining that banks and other mortgage lenders need to produce the original signed promissory note if the lender is going to foreclose on a piece of real estate. I’ve also heard that many lenders can’t produce the original promissory notes. Can I demand that … 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

Protecting Tenants in Foreclosure Act

A New Amendment to the “Protecting Tenants in Foreclosure Act” As described in a previous article, Changes for Some Post-Foreclosure Evictions, subsequent to May of 2009, tenants occupying foreclosed properties with a bona fide lease were not subject to immediate eviction. One of the issues discussed in the prior article was the many ambiguities contained in … Continue Reading

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