Two Bills Passed in Colorado Help Homeowners

On Monday, April 14th, the Third Reading Unamended of HB 14-1295 was voted on in the Senate and passed. With the majority of all members elected to the Senate having voted in the affirmative, the bill was passed. (Bills have “final action” on the Third Reading in both the Colorado House and Senate.)

HB 14-1295, titled “Concerning Residential Mortgage Foreclosures, and, in Connection Therewith, Requiring a Single Point of Contact and Prohibiting Dual Tracking” will help distressed homeowners.

Also on Monday, April 14th, HB 14-1130 had the Third Reading Unamended and was passed. This bill, titled “Concerning the Disposition of Moneys Charged to Borrowers for Costs to be Paid in Connection with Foreclosure” also helps distressed homeowners.

Both bills will be printed in the form in which they will appear in the session laws (called the “enrolled bill” and will be signed by the President of the Senate, The Speaker of the House and Governor Hickenlooper making it law.

HB 14-1295 requires a lender to establish a single point of contact for a borrower to communicate with the lender concerning foreclosure matters within 45 days after the borrower becomes delinquent in payments. The bill also prohibits “dual tracking”, in which a lender simultaneously negotiates with the borrower for a loan modification and pursues foreclosure through the public trustee.

Many homeowners were confident they were receiving a modification, even garnering encouragement from the lender and then shocked at a swift foreclosure. Often the notice of foreclosure preceded the denial of the modification.

HB 14-1130 (Foreclosure Cure Remit Unpaid Fees to Borrower) forces the accuracy of all costs and fees charged to a borrower. Specifically: “Current law is silent on when and how fees for court filings, published notices, and other costs of foreclosure are to be calculated and paid and, if overpaid, refunded. The bill [HB 14-1130] specifies that all costs and fees charged to a borrower must be accurately accounted for and that any overpayments based on prepayments or estimates must be promptly refunded to the borrower”.

The HB 14-1130 will stop foreclosure mills and foreclosure law firms from wrongfully billing homeowners for nonexistent foreclosure lawsuits.

Foreclosure Defense Attorney Keith Gantenbein has worked extensively with Representative and Sponsor of the bill, Beth McCann in the House, along with Senate Sponsor, Senator Jessie Ulibarri on drafting and testifying for these all-important bills to help homeowners for the past 3 years. Keith Gantenbein has been invited to speak at the upcoming Press Conference that will be held at the Capitol.

For a complete look at the final passage of the HB 14-1295 bill, click HERE

For a complete look at the final passage of the HB 14-1130 bill, click HERE

Keith A. Gantenbein, Jr. is a licensed, Colorado foreclosure defense attorney and real estate attorney located in Denver and servicing all of Colorado. His foreclosure defense practice includes Colorado foreclosure help, such as foreclosure prevention, judicial foreclosure, HOA foreclosures, foreclosure assistance, Colorado foreclosure assistance, loan modifications, short sales, and all other foreclosure defense legal assistance. He also defends homeowners against HOA claims in HOA lawsuits, handles real estate closings, title issues, lien issues, quiet title, real estate contracts, bankruptcies, Denver foreclosure help, mortgage negotiations, lender liability, foreclosure options in Colorado,  foreclosure alternatives, real estate, civil litigation, contracts and landlord/tenant. Visit  Gantenbeinlaw.com for more info.

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.

Gantenbein Law Firm also focuses on Colorado and Federal Tax Law. If you are facing an IRS tax audit, IRS tax appeal, tax litigation, or other tax issue, or need tax planning, call our premier Denver tax attorney at 303-618-2122, or visit our Denver Tax Attorney website.