Colorado contributes to
foreclosure assistance
Source:
Informa Research Services
(03/18/2011) A
major program that helps consumers in the state of Colorado avoid the threat of
foreclosure recently received a sizeable grant from the state government to
assist more residents.
The
Colorado Foreclosure Hotline recently received a two-year grant for a total of
$600,000 from the state attorney general's office in an effort to help more
residents keep their homes in the event of financial difficulties. The money
will come in part from fines and penalties levied against companies that engaged
in mortgage fraud.
However,
because this initiative doesn't grant any financial assistance, consumers may
find it beneficial to seek out a refinance,
which can help them save hundreds of dollars a month on their home
loan payments.
By checking the latest online rate tables, consumers can obtain the best local
rates available.
"The
Colorado Foreclosure Hotline is the best resource available for consumers facing
foreclosure," Colorado Attorney General John Suthers said. "It is free and has a
proven record of helping homeowners in distress assess their options and make an
informed choice."
The
hotline currently fields about 3,000 calls a month and helps talk troubled
residents through their options for avoiding foreclosure.
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