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Refinancing mortgages, solving foreclosures

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Perhaps soon enough we’d be in a position promised to Jeremiah (and repeated in Ezekiel) that the proverb “Parents have eaten sour grapes and children’s teeth are blunted” shall be replaced by an appreciation that everyone shall pay for his or her own sins. Unfortunately, we are not there yet. The housing bubble with its… Continue Reading Refinancing mortgages, solving foreclosures

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When the 300-room Renaissance Hotel on the north end of Colorado Springs goes to foreclosure auction in October, will anyone bid on it? Less than a year ago, investors were interested in taking over the project, near Interstate 25 and Interquest Parkway, but some watching the deal today say the bidding price, expected to start… Continue Reading Renaissance Hotel will go to auction, but who will bid?

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As foreclosures have fallen, so have the El Paso County Trustee’s staffing needs. Trustee Tom Mowle said the workload in his office dropped 18 percent between the end of the fourth quarter of 2010 and the first quarter of 2011. And that prompted him to cut his staff by 10 percent, from 10 employees to… Continue Reading Fewer foreclosures mean fewer trustee’s office jobs

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Sales of foreclosed homes fell in 1Q

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Sales of homes in some stage of foreclosure declined in the first three months of the year, but they still accounted for 28 percent of all home sales — a share nearly six times higher than what it would be in a healthy housing market. Foreclosure sales, which include homes purchased after they received a… Continue Reading Sales of foreclosed homes fell in 1Q

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Colo. foreclosure filings fall 40%

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April foreclosure filings in Colorado’s urban areas have fallen 40.1 percent from the same month last year, according to the state Division of Housing. The latest monthly report released today covers Colorado’s 12 largest counties, Denver, Adams, Arapahoe, Boulder, Broomfield, Douglas, El Paso, Jefferson, Larimer, Mesa, Pueblo and Weld. Between March and April, new filings rose 4… Continue Reading Colo. foreclosure filings fall 40%

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As deficit hawks circle Washington, D.C., expenditures are up against the knife. Even popular programs aimed at preventing urban decay and providing affordable housing could be on the chopping block. The U.S. House will vote on a bill next week that would kill the Neighborhood Stabilization Program, which provides funding to cities for purchases of… Continue Reading Foreclosure renovation funding plan facing cuts

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Two groups that used to work closely together — banks and commercial developers — aren’t holding hands at the party any more. Banks say they need more leverage to recoup losses when loans go into default. Developers maintain they are being pushed into bankruptcy because of the way banks handle existing loans and their refusal… Continue Reading Bill seeks to protect debtors’ personal assets from banks

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Surcharge raises doubts about foreclosure bill

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A Colorado House bill that has the potential to ease the state’s foreclosure crisis is under review by the Business and Economic Development Committee, but there’s a problem. The association that represents the county public trustees who will have to implement the measure has yet to back the proposal, and the El Paso County public… Continue Reading Surcharge raises doubts about foreclosure bill

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Govt anti-foreclosure program needs goals

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The Obama administration’s central foreclosure-prevention effort won’t reach its original goals and the government should come up with clear, measurable objectives for the two-year-old program, according to a new report from a congressional watchdog. Because the Treasury Department has failed to properly analyze the program it runs, it is nearly impossible for overseers and the… Continue Reading Govt anti-foreclosure program needs goals

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Federal banking regulators are examining whether mortgage companies cut corners on their own procedures when they moved to foreclose on people’s homes, Federal Reserve Chairman Ben Bernanke said Monday. Preliminary results of the in-depth review into the practices of the nation’s largest mortgage companies are expected to be released next month, Bernanke said in remarks… Continue Reading Fed boss: regulators looking into foreclosure mess

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