Colorado foreclosures to top 200,000 in four years
Nearly 202,000 Colorado homeowners are expected to go into foreclosure by 2013, according to a report by the Center for Responsible Lending, with 60,640 foreclosures taking place just this year.
The hardest hit district? Doug Lamborn’s CD 5 — the home of the Ronald Reagan Memorial Highway and conservative epicenter of personal responsibility.
This week, Congress will vote on Helping Families Save Their Homes Act of 2009 (H.R. 1106) to amend federal Chapter 13 bankruptcy law to allow judges to reduce the principal balance of home mortgages, also known as cram down. As the Wall Street Journal notes “currently only vacation properties, and not primary residences, can be crammed down by a judge.”
h/t Congress Matters
Like this story? Steal it! Feel free to republish it in part or in full, just please give credit to The Colorado Independent and add a link to the original.
Given the holy days and all, we’ve gone a bit reflective. Here’s a video about some of our favorite things. Colorado. News. Independent news coverage about […]Read More
Normally temperatures at resort elevations this time of year drop into the teens and 20s every night. This season, only a few light frosts have tinged the valleys, leaving the slopes bare and dry.Read More
Here’s what redeems Jackson’s opus: Significant characters die, and we feel the sorrow of their passing. The tone of the final segment is full of nobility, and, at times, a tragic sense of heroism.Read More