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real estate market: Colorado Springs Real Estate - 02/06/07 08:56 PM
 
The real estate market in Colorado Springs is, contrary to recent headlines, in excellent shape. The much-hyped factoid that Colorado is leading the nation in foreclosures is due directly to our "deed of trust" and Clerk & Recorder process. When someone fails to pay their mortgage (or deed of trust in this state) the law compels the Clerk and Recorder to initiate the foreclosure process immediately. The process will likely take another 4 to 6 months, and the property will likely be sold or "redeemed in this period, but nonetheless it is counted as a foreclosure. In other states, the mortgagor … (1 comments)

 

Jose Luis Ramirez

Colorado Springs, CO

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5 Star Mortgage, Llc

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Jose Luis Ramirez's ramblings on mortgages, real estate, the Colorado Springs market, and other simple thoughts that pass through the mind.


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