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 John Rebchook is a former Rocky Mountain News reporter with more than 30 years of experience in writing and communications... (Read More) |
Although a federal program has helped 500,000 homeowners across the country facing foreclosure modify their mortgages, a report was released today saying the current programs in place will not help the next wave of foreclosures caused by job losses. The Home Affordable Modification Program, or HAMP, wasn’t designed to deal with the new round of foreclosures [...] The three-year-old ranch-style, custom-homes has 2,674 square feet, four bedrooms, and sits on nine acres in Brighton. It had $541,000 in debt on it, when it sold about a week ago at an Adams County Public Trustee Auction for $399,000, creating a deficiency, or the amount owed the bank, of $142,002. Another home, a four-bedroom, three-bedroom homes [...] There appears to be a “shadow” market of homes, both distressed and otherwise, that are not on the market yet, and could ultimately delay the housing recovery. A survey by Zillow.com in May, for example, found that 31 percent of those polled would consider putting their homes on the market, if conditions were better. That [...] |
   Acknowledgements Some Photos on this site, courtesy of and © Steve Groer Photography, Denver's Premier Coroporate & Event Photographer. Please contact Steve via his website or by phone at (303) 696-6260 or (303) 941-5764.  |
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