5 Ways the Foreclosure of Your Colorado Springs House Will Impact You

This can overcomplicate things and cause them to drag on.

If you are in this situation, be sure to stay calm and collected because we need to handle this as smoothly as possible. The first thing is that if you’re not already receiving notices from the lender or even your attorney, you should start immediately. There are cases where homeowners will get foreclosure notices from their bank for well over a year without realizing it. This isn’t good news especially since some of these notifications can notify the homeowner when they have only thirty days before things can take a turn for the worst unless action is taken. Don’t worry though as we’ll go over what action needs to be taken shortly.

You can never be sure of what will come your way, but it is your responsibility to foresee and plan for any negative events that may happen after the foreclosure.

1. The immediate loss of a place to call home

The foreclosure process takes time,  usually about nine months from filing to when eviction occurs. You have a dwelling where you live up until the final court order states that you must vacate the property within 24 hours [STORY_1]. This situation can be stressful in any circumstance, even more so if you still have a mortgage loan on the house.  If it is possible to hold off eviction by staying in a hotel or with friends and family members while paying rent or making arrangements with your lender then do so immediately.


Going through this process, however, will not be easy.

The first step in getting rid of a foreclosure on your credit score is to pay down the balance as quickly as you can. In fact, if you ignore this and leave it outstanding for two years since paying off all the money on your debt, then you are going to see an even bigger impact on your credit score. At this point, it is important that you maintain good standing with lenders who are willing to provide new loans for clients with a less-than-perfect credit history. It is particularly true if you have already had other personal issues associated with financial troubles; such problems may include previous bankruptcy filings. These factors alone are quite enough to make it difficult to get approved for any type of loan by any reputable lending institution.

Fees and Deficiency Payments

The financial blows from the court fees and any deficiency from the foreclosure of your Colorado Springs house will continue to linger until the debt is satisfied. When you go through the foreclosure process in court, you are responsible for paying court fees. People who are experiencing financial problems resulting from divorce often find themselves in the situation where they need money quick and they do not have access to credit.

Many people are turning to payday loans in Colorado Springs when they wish to get money fast. A payday loan is usually issued by a finance company. It is designed so that it can be repaid with one’s next paycheck or other future earnings. These types of loans vary in repayment time frames from six weeks on up until several months pass. The interest rate that you pay for these short-term loans varies considerably depending on which company issues the loan, but most range between a certain price point for the buyer to qualify.

What Chances Do I Have When Selling My Home on Craigslist in Colorado Springs


This is your property and your future. Why not try selling it to us for less than what you owe today?

Selling to avoid foreclosure is the right choice if the consequences are that severe. Facing foreclosure on your Colorado Springs home will be a tough decision, but it will also be a crucial one. The idea of losing your home and everything you have worked toward over the years can create doubt, maybe even panic in some cases. Sometimes people don’t know where they should turn or who to trust with their situation. If this describes you then give us a call or fill out our contact form online as soon as possible so we can help guide you through this difficult process while still protecting your best interests.


We are professional cash buyers that can assist you in selling your house fast. Let us show you why we are a better option than foreclosure.

The foreclosure of your Colorado Springs property may be something that is affecting many people in today’s economy, but it doesn’t have to lead to certain losses. It is a tough time for everyone and there are few easy options available, however, if you need to sell my house fast Colorado Springs, we can help make the process as simple as possible. If you would like an offer on your house, even if it means occupying less space than before then give us a call and see what our company can do for you today! We know how hard this situation can be on the homeowner and have no desire to add any more complications to the sale process.

Standard of Living

This is something that you need to know if you are trying to get back on your feet financially.

DIY foreclosure prevention is a smart move for homeownership and can be done by contacting your lender or servicer directly and working out new conditions of your mortgage that can keep you in the home. A foreclosure becomes a public record, which makes it difficult to find an affordable place to live in the future due to the fact that a rental application will show up as rejected with “foreclosure” as one of the reasons why. If you ever decide to apply for another mortgage loan in the future after going through foreclosure, expect a higher interest rate than those who have never experienced it before. The second option would be to start looking into renting until you are able to afford another house so that you can land on your feet once this process has been completed.

We are the number one Colorado Springs foreclosure solution and can help with any other problems you are facing as well. Give HBR Colorado a call right now at (719) 286-0053 or send us a message!


Entrepreneur, online marketer, real estate investor, and owner of the Sell Your House To Tactical Investing Inc. franchise

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