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12 Jan 2012
Distressed homeowners can get help. Distressed homeowners can get help.

Colorado Springs Foreclosure Numbers Dip, But Bankruptcy Can Still Help Distressed Homeowners

Foreclosure numbers in Colorado fell in 2011. But most experts believe this has less to do with the real estate market recovering and more to do with a delay in filings by the country's biggest banks.

Some people believe they can fight back against banks by attempting to show that the bank filing the foreclosure doesn't actually own the note. But our Colorado Springs bankruptcy attorneys believe there is another option that is more beneficial to Colorado Springs homeowners.


That option is filing for bankruptcy in Colorado Springs.

Did you know that filing for bankruptcy immediately stops a foreclosure? Whether your home has just received its first default notice or is slated to be sold at auction, filing for bankruptcy halts the process.

This can buy homeowners valuable time while they attempt to get their finances in order. Through the bankruptcy process, consumers can discharge their outstanding debt, such as from credit cards, medical bills and other loans, which can enable them to again make house payments.

Or, perhaps homeowners are currently in a house that has an underwater mortgage, meaning they are paying more on the loan than the house is worth. Many people are in that position. Filing for bankruptcy may allow the homeowner to get rid of their debt and their house after the foreclosure process has gone through.

The Denver Business Journal recently reported that Colorado saw a 28.6 percent dip in properties with foreclosure filings from 2010 to 2011, but the state still had one of the top 10 highest foreclosure rates nationwide, foreclosure tracking company RealtyTrac.

One out of every 56 houses had a foreclosure notice last year, totaling 38,557 properties. In December, one in every 620 properties went into foreclosure, a 7.29 percent drop from November.

Most analysts believe that foreclosure numbers dropped in 2011 because big banks in 2010 halted their foreclosure practices after investigators found out they were using "robo-signing" tactics and other unlawful means to take away people's homes.

If you are struggling with debt and need to speak with an experienced Southern Colorado bankruptcy lawyer, contact attorney Stephen H. Swift at 719-520-0164 for a free initial consultation.

Stephen H. Swift

Managing Attorney
Law Office of Stephen H. Swift, P.C.

Client Testimonials

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    "My attorney (Matthew Hansen) is a very kind person.  I felt very confident in his skills. He is very knowledgeable and efficient.  He didn't make me feel embarrassed to be filing for bankruptcy.  Thank you Matthew!  Laura was very friendly, and everyone I interacted with was very nice and helpful as well." 

     

      –  Sherry M., Colorado Springs, CO

     

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    "Steve explained things well so you know what you're doing.  The staff was very helpful with everything, including the paperwork." 

     

      – Raymond & Rhonda P.,                         Colorado Springs, CO

     

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    "From the first time that I entered the office, I was treated with the utmost respect. It was like I had been knowing all of the employees for years!! Every person that I came in contact with was extremely courteous!!!

    I rate my overall experience a 12!! And I wouldn't change a thing on the website.

    Cris is absolutely wonderul!! While Alicia was extremely courteous and humorous!!!  Stephen (Swift) was extremely professional and courteous. One of the nicest gentlemen that I have Had the pleasure of working with. I can't thank him enough."
        

      – Pete, Colorado Springs, CO  

     

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    "Upon my first visit to the office, I was in an unfamiliar part of town.  I was also bewildered and experiencing anxiety.  I was not even sure I should be there or how to proceed in a very new situation where my back was against a wall.  The first person I met in the office was the lovely receptionist.  I have to say that she has the absolutely right demeanor and is extremely successful in her position.  She has a slight but comforting smile and persona.  She is confident but not arrogant in processing the needs of clients.  I do not feel that this is a small achievement in any way.  I feel this person in many ways sets the tone for the office as the gate keeper of the office and emotional clients.  She definitely helped me thru this process with her silent and dedicated service to me, the clients and the office."

     

    John C., Colorado Springs, CO

     

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    "Upon entering Steve's office, one immediately knows they have entered his "zone".  Steve will talk, think, contemplate, then act.  He then spins his chair around, garbs paper, types on the computer and zaps something thru the printer.  Occasionally, a document needs to be scanned or something else from outside the office is needed, and Zap someone appears without having to yell down a hall or call out.  There is definitely a team here that is in sync.  There may be a question out of the blue suddenly or a brief conversation about something else.  The whole time, Steve is on point.  I felt from day one, a trustworthy confidence in placing my future in his hands.  I was not wrong.  I also never once felt rushed, brushed off or that my concerns were not his.  I felt that Steve is in this for me and his clients.  I have a debt, gratitude and confidence in Steve and the Swift team that far exceeds the fees pain." 

     

      – John C., Colorado Springs, CO

     

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    "Thank you to everyone who worked on my case.  My driving priviledges are now restored and I have a fresh start.  I am very grateful to the Swift Law Firm!   Everyone was very kind and helpful and easy to talk to.

    Ward was very knowledgeable and knows the pros and cons of your case. Definitely a man to listen to concerning your case, and he was very helpful!

    Matt Hansen is a good man, very helpful, gives good advice  AND he is willing to go the extra mile.  Steve Swift is a man of action who knows his profession.  He lifted a heavy burden, and I cannot thank him enough for an excellent job!"  

     

      - Henry R., Colorado Springs, CO  

     

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