Foreclosure Assistance

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If you�re worried about missing a mortgage payment on your house, now is the time to take the first step against losing your home. The easiest way to do that is by educating yourself on what options are available to you and your family. There are several agencies in the metro area that offer a variety of help in avoiding foreclosure.

Assistance Links

Colorado Foreclosure Hotline

The Colorado Foreclosure Prevention Task Force sponsors the Foreclosure Hotline. It�s a free service for homeowners who have missed a payment or are in danger of foreclosure. Trained professional housing counselors can help you understand what options are available. The Foreclosure Hotline number is 1-877-601-HOPE.

Adams County Housing Authority (ACHA)

The Adams County Housing Authority (ACHA) offers a variety of free services on housing related matters such as mortgage default and foreclosure prevention. Their staff can provide homeowners information on mediation assistance with lenders, budgeting and mortgage responsibilities. They also offer foreclosure prevention workshops the first and third Wednesday of each month. Call 303-227-2075, option 4.

Brothers Redevelopment Inc.

Brothers Redevelopment Inc. (BRI) is a non-profit agency that offers a variety of services from default counseling to reverse mortgages. Their staff can provide homeowners information on foreclosure options, repayment negotiation, as well as the foreclosure process and timeframes. Call 303-202-6340 for more information.

Foreclosure Loan Program

The Colorado Rural Housing Development Corp. has launched a new $500,000 loan program to assist Front Range residents facing foreclosure. Thornton residents who meet the program requirements can apply. To qualify for the program, borrowers must have fallen behind on their mortgages because of an illness, death in the family, job loss or urgent home repairs. They must also attend free personal-finance courses provided by the CRHDC. Homeowners who have been in their homes at least three years and are behind on their mortgage payments can borrow up to $5,000 at a 5 percent interest rate.

Loans must be repaid within seven years. Those interested in applying for a hardship loan should call Steve Shott 303-428-1448 extension 212, or e-mail him at stephen@crhdc.org.

Hardship Refinance

The Colorado Housing and Finance Authority (CHFA) offers a Hardship Refinance program to assist citizens that are facing foreclosure because of a temporary and unforeseen financial crisis. It provides a one time opportunity for qualifying borrowers to pay off their existing delinquent mortgage and establish a new 30-year, conventionally uninsured first mortgage.

General Information

Foreclosure Points to Remember

Stay in your home to make sure you qualify for assistance.
Arrange an appointment with a HUD-approved housing counselor to explore your options.
Beware of scams. If something sounds too good to be true, it probably is.
Don�t sign anything you don�t understand. It is your right and duty to ask questions.
Act now. Delaying won�t help. If you do nothing, you will lose your home and your good credit.

Buying a Foreclosed Home

The Adams County Public Trustee office is appointed to perform public service duties. This includes processing documents pertaining to Foreclosures of Deeds of Trust and Release of Deeds of Trust. If you are interested in learning more about the purchase of a foreclosed home, please visit the Adams County Web site.