Foreclosures in Metro Denver were down 46% in 2013 according to The Denver Post. I feel this is because of rising house prices that allow a homeowner in trouble to sell their home easier than in the past, and that mortgage payments, while high, are often more reasonable than rent payments which continue to increase.
Mile High Bankruptcy we have seen that more clients are keeping their homes through Chapter 7 Bankruptcy in the Denver area because they are able to make their mortgage payments AFTER being free from unsecured debts like credit cards and medical bills. Folks can now focus on the house which may be worth paying for since prices are up and homes that are “upside down” on the mortgage versus value have decreased in number.
Call me today, 720-253-3586, if you would like a free consultation as to how eliminating debt in chapter 7 Bankruptcy can help you keep your home.