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Arnold & Arnold, LLP
Attorneys at Law
7691 Shaffer Parkway, Suite A
Littleton, CO 80127
Phone: 720-962-6010
Fax: 720-962-6011
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Home Foreclosure Resources

Foreclosure - Programs and Incentives Available 

In Colorado, the place to start is the Colorado Foreclosure Hotline 1-877-601-HOPE. The website contains excellent information Colorado Foreclosure Hotline is a HUD-approved counseling agency. If you represent the Lender, then right to cure letters must include reference to this agency using language such as:

There may be assistance available to help you cure the default and avoid foreclosure. We encourage you to contact the Colorado Foreclosure Hotline at 1-877-601-HOPE (toll free). You may also contact undersigned counsel for the purpose of payment.

The website reports: "Since its Oct. 11, 2006 establishment, the Colorado Foreclosure Hotline has received more than 165,000 calls and helped more than four out of five homeowners to reach positive resolution." The website also includes a list of resources and links.

The Home Affordable Modification Program (H.A.M.P.) is a federal program. HAMP gives mortgage lenders the opportunity to enter into contracts with the US Treasury to modify homeowners mortgage loans and receive incentive payments. An overview of HAMP and the incentives offered along with training schedules for interested lenders can be found at:

The Regulations governing the above acts can be found at 16 CFR Part 322 - Mortgage Assistance Relief Services. The Regulations empower the attorney general or other officer of a state to bring action to enforce the Act and Regulations. See 16 CFR 322.10.

The incentives offered were broadened through FHA (Federal Housing Administration) to address people who lost jobs. The HAMP reduced monthly payment of 31% of gross monthly income has been modified further if the homeowner is unemployed, including a temporary support program to delay repayment while the homeowner conducts a job search. The program has fixed criteria discussed in more detail on the Colorado Foreclosure Hotline website.

Copyright 2013. Jean C. Arnold. Arnold & Arnold, LLP

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