According to a recent article in the Denver Post, foreclosures are increasing dramatically in Colorado. Foreclosures in Denver, Aurora, Arvada, Englewood, and Broomfield have hit epidemic levels in recent years. Experts say that many mortgages are in default, and it is just a matter of time to see what the mortgage holders will do. For example, in Boulder and other cities included in Boulder County, the Post reported that Assignments of Deeds of Trust are up 72%. In Adams County, which includes the cities of Brighton, Federal Heights, and Commerce City, the number of mortgages that could be foreclosed is up 213%. Overall, the number of mortgages that could be foreclosed because of late payments more than doubled between January and May of 2012 all across Colorado.
Foreclosure can be heartbreaking if it comes to your family. Houses that have been homes for years to people may be taken from them and put up for sale in an effort to repay creditors. When faced with the crises of foreclosure, bankruptcy gives you a fighting chance to keep your home and assets. A Chapter 7 or Chapter 13 bankruptcy will give you a fresh start and minimize the stress of making a mortgage payment every month.
Attorney Barry Arrington has helped many people in the Front Range keep their homes and reorganize or liquidate their debt. Don’t play the waiting game to see if the bank will take action against you. When dealing with your home, be proactive and have an experienced bankruptcy attorney at your side. Call Barry Arrington at 303-205-7870 and he will fight to give you the best, fresh start possible.