As a foreclosure attorney, I fully support the new House Bill, 1156, that is being introduced by Representative Beth McCann. I have a fair bit of insight into what this Bill means, and what it does- considering I have represented lenders in over 60,000 foreclosure cases.
I have encouraged all my clients to reach out their House Representatives, and to reach out to Rep. McCann, in support of this Bill. If you are reading this post, I encourage you to do the same.
I will update my blog frequently with more information regarding HB12-1156; please check back!
Here it is, my full endorsement and some insight into the House Bill:
I support HB12-1156 recently introduced in the Colorado legislature, which will provide an equal playing field for both homeowners and the banks.
As one of Colorado’s main Foreclosure attorneys, I was employed by Colorado’s largest Foreclosure Law Firm, in Denver, from 2009-2011. I am now in private practice specializing in Foreclosure Defense.
During my employment with this firm, my signature alone was sufficient to take away a person’s home – and – I was involved in tens of thousands of Colorado foreclosures. This was compliant with the law as it stood, and still stands.
Often, I was the face of the foreclosure industry. I conversed with thousands of borrowers, both in and out of court. I listened to their concerns, conflicts and struggles. In short time, I realized there was a huge discrepancy in power.
Colorado’s current laws unfairly allow lenders and law firms/attorneys railroad through the foreclosure process and hide (or gloss) over substantive issues.
When presented with an opportunity to open my own practice, I recognized, through the result of my experiences, I could help even the playing field by assisting homeowners struggling through an unfair system.
I have intimate working knowledge of the public trustee system, and have personally executed tens of thousands of qualified holder statements. I have used that signature and document as evidence of standing to foreclose on those tens of thousands of homes.
The current foreclosure process in Colorado is one of blind faith.
The foreclosure referral is typically nothing more than a one to two-page document simply stating the loan is in default, please foreclose. The referral is provided by the servicing company or a subserving company. Servicing companies often provide copies of the note with a single line stating please foreclose in the name of xxx. Attorneys rarely inspect the original note or make any additional attempt to determine who the proper party is to initiate the foreclosure.
Further, the qualified holder statement avows the copy of the note is a true and correct copy of the original. In reality, this copy is rarely true or correct. More times than not, after inspection of original notes, there were additional endorsements that were NOT on the certified true and correct copy. I was extremely and personally concerned how, in the majority of foreclosures, these copies were being used as originals.
Colorado homeowners deserve more of an equal balance. I currently have many clients who have struggled to determine ownership of the note and have had to fight through the modification process. They shouldn’t have to go through this battle.
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.