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Colorado Program May Indirectly Prevent Foreclosure

April 2, 2010 - Colorado - Creative programs are popping up around the country in response to the national foreclosure crisis. While some of these programs aren't specifically intended to help victims of foreclosure, they may provide some relief to struggling homeowners that are concerned about the effect that foreclosure has had on their property value.

According to TheDenverChannel.com, a new program in Aurora, Colorado, called the Neighborhood Stabilization Program, was created to prevent the issue of foreclosed homes bringing down the value of surrounding homes, a trend that has contributed to the overall housing crisis.

Program administrators find the lowest-priced foreclosed homes in an area, purchase them, fix them up, and then flip them, selling them for a nice profit in most cases. Any money made from the sales goes back into the program so that more homes can be purchased. So far, about 26 homes have been bought and flipped.

The low value of foreclosed homes often brings down surrounding home values, so even a few empty houses on a street can make it nearly impossible for neighbors to sell their home for the maximum value. Thus, homeowners who need to sell, either because of a job transfer or simply not being able to afford the home anymore, may indirectly avoid foreclosure because of the program. 

If you've been on the receiving end of a foreclosure notice, even though you've never missed a housing payment, you may be the victim of a wrongful foreclosure. The Massachusetts wrongful foreclosure attorneys at Phillips & Garcia will fight for your rights in your foreclosure case. We are committed to protecting your best interests and your family's home and helping you collect the damages you need and deserve to move on with your life. Contact Phillips & Garcia today to schedule your FREE legal consultation - (877) 892-5620.

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Legal Help for Wrongful Foreclosure and Seizure in Any State.  Phillips & Garcia, P.C., a leading law firm in wrongful foreclosure and seizure cases, is now taking cases in any state where there has been a wrongful foreclosure, lock-out and trash-out of a borrower's home.  We are licensed in Massachusetts and associate with a qualified attorney in your state. 

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