Are You at Risk of Losing Your Home in El Paso County Colorado?

Pre Foreclosure

Understanding the Risk of Home Loss in El Paso County Colorado

Home loss is a serious issue in El Paso County Colorado, with the number of foreclosures increasing each year. According to the Colorado Department of Local Affairs, El Paso County had the highest rate of foreclosure filings in the state in 2020, with 1,845 filings. This is a significant increase from the 1,541 filings in 2019. The risk of home loss is further compounded by the fact that El Paso County has the highest median home value in the state, at $310,000. This means that homeowners in El Paso County are more likely to be at risk of losing their homes due to financial hardship.

Identifying Factors that Increase the Risk of Home Loss

There are several factors that can increase the risk of home loss in El Paso County Colorado. The most common factor is an inability to make mortgage payments due to a loss of income or an increase in expenses. Other factors include an increase in property taxes, an increase in the cost of living, and an increase in interest rates. Additionally, homeowners who are unable to keep up with maintenance and repairs on their homes may be at risk of losing their homes due to code violations or other legal issues.

Strategies for Reducing the Risk of Home Loss

There are several strategies that homeowners in El Paso County Colorado can use to reduce the risk of home loss. The first step is to contact a housing counselor or a foreclosure prevention specialist. These professionals can provide advice and assistance with budgeting, negotiating with lenders, and exploring other options such as loan modifications or refinancing. Additionally, homeowners should consider taking advantage of the Colorado Home Foreclosure Prevention (COHFP) program, which provides free counseling and legal assistance to homeowners facing foreclosure.

Resources for Homeowners Facing Home Loss in El Paso County Colorado

Homeowners facing home loss in El Paso County Colorado can access a variety of resources to help them avoid foreclosure. The Colorado Department of Local Affairs offers a list of housing counselors and foreclosure prevention specialists who can provide assistance. Additionally, the Colorado Home Foreclosure Prevention (COHFP) program provides free counseling and legal assistance to homeowners facing foreclosure. Finally, homeowners can contact their local government or nonprofit organizations for additional resources and assistance.

Colorado Home Foreclosure Prevention - COHFP

Arrange Free Housing Counsel – If the burden is too much to handle on your own, Colorado Home Foreclosure Protection (COHFP) can help.  We believe that during the initial home consultation, you’ll feel huge relief.  Happiness will start to set in immediately. Reach Out Today.

 

COHFP Can Help

  There will be many solutions that are discussed in person.  You’ll choose what works best.  Many can be put to use immediately, or within 30-days. 

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