Cities join to offer foreclosure help assistance

Guest Commentary
May 6, 2008

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In Colorado, foreclosure filings between 2006 and 2007 increased by 40 percent, with Weld County ranked the second highest in foreclosures in the state. One in 29 households in Weld County has been affected by the mortgage crisis. There are many contributing factors to the high rate of foreclosures: predatory lending practices; job losses; high fuel and energy costs; adjustable rate mortgages; inflated home prices; and a slowing economy.

The negative effect on our economy has been significant. Many families have found themselves forced out of their homes. Investors, contractors and reputable financial institutions have suffered huge losses. Property values have declined, resulting in decreased municipal revenues from property taxes.

Some key indicators that will help you know if you are at risk for foreclosure:

»You have missed utility payments.

»Your mortgage payment has increased.

»You are struggling financially to maintain your property.

»You have received collection notices.

»You are paying your daily expenses with credit cards.

»You are borrowing money to pay other bills.

As the mayors of Evans and Greeley, we have come together to forge partnerships with other elected officials and agencies in Weld County to help homeowners in need of assistance access available resources and understand alternatives to foreclosure.

These efforts have resulted in the formation of the Weld County Mortgage Assistance and Counseling Forum. This partnership has been working for the past several months to assemble the necessary resources to provide community education and referral information, expand local housing counseling services and coordinate among themselves efforts to stem the economic impact to families and communities from foreclosure issues.

The initial forum is scheduled from 7-9 p.m. Monday at the Greeley Recreation Center, 651 10th Ave. A second forum is tentatively planned for late July or early August at the City of Evans Community Complex on a date and time to be announced. These free events are open to all Weld County residents and will feature representatives from a variety of agencies including Housing and Urban Development, the U.S. Department of Housing, Weld County, the Colorado Foreclosure Hotline and private sector groups such as Bridges of Hope.

Housing counselors will be available to meet individually with families who have questions or need guidance with their mortgage concerns.

The most important step a family facing foreclosure can take is to get help. Community resources are available, and the Weld County Mortgage Assistance and Counseling Forum is a perfect opportunity to learn about options to this difficult issue.

Lyle Achziger is mayor of Evans and Ed Clark is mayor of Greeley.

Contact Information for Weld County Foreclosure and Counseling Forum:970-461-3530 (Senator Wayne Allard's Northern Office) 970-475-1119 (City of Evans)970-350-9772 (City of Greeley)

For other foreclosure assistance Information: United Way of Weld County 211Colorado Foreclosure Hotline, 1-877-601-HOPE (4673)