Continuation of foreclosure deferment will help homeowners connect with housing counselors.
Foreclosure-related HB-1312 made it out of committee this week and will be heard on the floor of the House. Hotline Director Shannon Peer testified on the benefits of the bill during a committee hearing. We expect the bill to move fairly smoothly through the process with a positive outcome and a one-year extension to continue the state’s foreclosure-deferment program. It is set to expire at the end of June. HB-1312 is sponsored by long-time Housing Counseling supporter Rep. Angela Williams, D-Denver.
The extension would provide one more year for homeowners to have access -- if eligible and qualified – to a foreclosure deferment, allowing them time to work toward avoiding foreclosure with the loan servicer. Overall the extension helps connect homeowners to housing counselors and helps bolster a healthy housing market with fewer foreclosures.
Over the years, the Colorado Hotline has had support from the community, direct stakeholders, state and local government and the legislature. Some of the Hotline network’s key supporters include the Attorney General’s Office, CHFA, Division of Housing, public trustees, Colorado Mortgage Lenders Association and the Mortgage Bankers Association.