A Note in Regards to the Killed HB12-1156
The past couple of weeks have been quite busy. As most of our blog followers know, I was helping draft Colorado’s bill, HB12-1156 sponsored by Representative Beth McCann.
Yesterday, I testified before the House and Business Development Committee as a proponent of the bill.
As written in the 3/13/2012 Denver Post, “Honor system for foreclosure paperwork has led to illegal Colorado seizures, lawyer surmises”, I was widely quoted. I stated “my discomfort at signing documents when there was no way to verify information provided.”
Although everything I signed, and everything I did while working at my former firm, I followed the law completely, which is at the heart of the bill. The law, as it is written and followed now, needs to be reverted back the way it was in 2006 to even the playing field between the homeowner and the lender.
I felt it necessary to stand up and speak out about how the current law puts the homeowner at a great disadvantage. The 2006 law was written by the lender attorneys and clearly favors the banks. I was ethically bound to follow that law – but I personally disagree with it. I am hoping that my efforts in speaking out will help change it. Asking lenders to provide proof of document ownership is not a radical concept. Most other states have already adopted and implemented similar laws; Colorado is behind the times in this process. This heightened requirement of proof of document ownership is a recurring requirement in both the Attorney General’s settlement and independent audits.
Yesterday, a report was issued by the Inspector General’s office at the U.S. Department of Housing and Urban Development (HUD) which said, in part, “Managers at major banks ignored widespread errors in the foreclosure process, in some cases instructing employees to adopt make-believe titles and speed documents through the system despite internal objections.”
I’ll be writing a lengthier article on this important report that also states the banks are dragging their feet providing needed information to the IG, HUD.
And I will continue all my efforts to help homeowners.
Keith A. Gantenbein, Jr. is a Colorado foreclosure defense attorney located in Denver and servicing all of Colorado. He also handles bankruptcies, mortgage negotiations, lender liability, real estate, civil litigation, contracts and landlord/tenant. If you think you will be facing foreclosure, or are in the foreclosure process, or have had a wrongful foreclosure, contact Keith Gantenbein at (303) 618-2122 for a one-hour consultation where he will discuss your situation and go over all your options with you.