CBS4 piece on new foreclosure laws
This is based on a TV piece: Jul 31, 2009 5:06 pm US/Mountain New Foreclosure Law Offers Homeowners Relief Written for the Web by CBS4 Special Projects Producer Libby Smith Reporting Michelle Griego DENVER (CBS4) ― ...Starting on August 1st, homeowners facing foreclosure will get letters in the mail informing them of a new law that could give them an extra 90-days to save their homes. "Provides potentially a 90-day deferment, that is an additional 90-days for someone during which they can do some negotiation and some workout for their loan," said Ryan McMaken, spokesperson for the Colorado Division of Housing. The law is designed to help those homeowners who can still make some payment on their mortgage even if it's not the full amount. "This probably isn't going to be a program for people who have no income at all or they have such greatly diminished income that they can't make that two-thirds payment," McMaken added. Those who get the notice that they...