Colorado Foreclosure Process

Colorado Foreclosure Process
One question I get asked the most is: What is the foreclosure process in Colorado? I decided to include the process here as a reference. Important Terms Before discussing the timeline itself, it is important to understand some terms used in the foreclosure process. Time Frame: 110-125 days non agricultural property, 215-230 days Agricultural property Judicial Foreclosure: Yes Non-Judicial Foreclosure: Yes Right of Redemption Period: No Security Instruments: Deed of Trust, Mortgage Deficiency Judgements: Yes A home can be closed in what is called a Judicial or Non Judicial foreclosure. A judiciail...
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The Short Sale Process

The Short Sale Process
Only recently has the term short sale become a house hold term. The term short sale seems so simple. Even the definition of short selling a home is simple: “selling your home for an amount that is less than what you owe.” The reality is the short sale process is quite simple but successfully completing a short sale is tedious work and requires a tremendous amount of patience by all parties involved. Every single real estate professional has a different level of experience with short sales. Each bank or loan servicer has their own specific process for handling short sales. The laws, rules,...
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Short Sale vs Foreclosure

Short Sale vs Foreclosure
Benefits of a Short Sale vs Foreclosure The table below compares a short sale to a foreclosure. Event Foreclosure Short Sale Can I get a Fannie Mae Loan in the Future? The current Fannie Mae Guidelines require you to wait 5-7 years before getting a new loan. Current Fannie Mae Guidelines allow you to purchase another house after 2 years. Can I get a future loan from any mortgage company? Any future application will require you to answer the question, “Have you had property foreclosed upon or given title or deed in lieu thereof in the last 7 years?” you’ll have to answer that question...
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Please excuse my mess

Please excuse my mess
  Welcome to Denvershortsaleblog.com! Please excuse my mess as I transfer the blog posts here and get the site up and running. Be sure to check back often for updates. –Joe
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