Relief from foreclosures PDF Print E-mail

(Denver Daily News, February 10, 2009)

State leaders yesterday announced a plan to provide a 90-day moratorium on foreclosures for qualified homeowners.

Gov. Bill Ritter also announced that Countrywide Financial Corporation will pay the state $6 million for direct foreclosure assistance to homeowners. Once the nation’s largest independent mortgage lender, Countrywide settled after allegations by the Attorney General’s Office that it used deceptive marketing to peddle subprime loans.

Rep. Mark Ferrandino, D-Denver, is proposing a three-month time-out on foreclosures for homeowners that are “good candidates” based on their debt and overall financial situation.

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