After three years of persistent and tireless work by Colorado Progressive Coalition members, the Colorado legislature this month finally passed meaningful protections for homeowners at risk of losing their homes.
For years horror stories have abounded in the press of banks that lost paperwork, homeowners never speaking to the same person twice, promises of a loan modification while simultaneously foreclosing on the borrower. Abuses by the banks added to the immense stress homeowners – and added to the growing number of foreclosures that could have been prevented.
The package of protections passed by the Colorado legislature is known as the “Homeowners Bill of Rights,” and is similar to those passed previously in California, Nevada, and Minnesota. Read more