Foreclosure Information

The San Miguel Regional Housing Authority (SMRHA) offers free housing counseling services by phone or in person from a certified Housing Counselor.

 

To learn more about foreclosure and the process, you can read through the foreclosure Cure & Transition pages on the website and contact Shirley L. Diaz at (970)728-3034 ext. 5 or shirley@smrha.org to discuss your situation.

 

San Miguel County Foreclosure Information: VIEW PDF

 


1. Early Intervention is Your Best Way to Save Your Home from Foreclosure

Please see the timeline below for details on how foreclosure works in the state of Colorado.

2. Be Informed and Act Quickly

There are many reasons a household may have difficulty paying a mortgage: unexpected expenses, unemployment, overspending, illness/injury, death, divorce, relocation, birth or addition of a child, education expenses, and others. Whatever the reason, get informed about all of the options and act quickly.

 

Foreclosure intervention involves addressing the financial crisis in the earliest possible stages to maximize relief available from the lender. For early intervention to be effective, it must include:

  • A clear Statement of the Problem;
  • A thorough Personal Financial Statement; and
  • A realistic Plan of Action, spelling out for the lender the relief you are seeking and how you plan to meet your current and future financial obligations.
3. Download and Complete the 3 Forms Below:

COMPLETE A STATEMENT OF THE PROBLEM keyboard_arrow_right

  • Summarize your situation: be clear, honest and specific. Any documentation you can provide to the lender will help them during the review process.

COMPLETE A FINANCIAL ASSESSMENT keyboard_arrow_right

  • This sheet will help you identify your priorities, evaluate your financial situation, and determine a realistic payment solution.

DETERMINE IF THERE IS EQUITY IN THE PROPERTY keyboard_arrow_right

  • This Equity Calculation sheet will help you determine if keeping the property is a realistic, viable solution based on your assets and your liabilities.

If you are falling behind on your mortgage or would like to discuss your options with a Housing Counselor, call (970)728-3034 ext. 3.