Foreclosure in Colorado is up as it is around the country. To those loosing their homes it’s horrible - to buyers it’s an opportunity.
Below is a 101 lesson in foreclosure, the process and terms.
As always consult with an attorney if you are loosing your property or considering buying one. Seek advice from qualified finance, tax and legal professionals.
Effects of Foreclosure :
- For the Distressed Homeowners: loss of home, loss of equity, damage to credit by approx 200 points, remains on credit history for 7 years.
- For the Neighboring homeowners.....read more here
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