Colorado’s new foreclosure hotline received 3,000 calls during its first two weeks, more than similar efforts in other states, organizers said Monday.
The state launched the hotline Oct. 12 in response to surging foreclosures in Colorado. The number, 877-601-HOPE, received more than 1,300 calls in the first 24 hours.
The state has had the nation’s highest foreclosure rate for seven straight months. During September, 4,485 Colorado properties were in some stage of foreclosure, a rate of one for every 408 households, according to RealtyTrac, a California company that provides foreclosure listings.
The Homeownership Preservation Foundation’s nationwide hotline received 2,000 calls from Ohio during the first three months of its operation, according to organizers of Colorado’s hotline. The Dallas HOPE program received 1,200 calls in its first two weeks.
“The response has been amazing,” said Kathi Williams, director of the Colorado Division of Housing. “Now the challenge will be to help as many people as we can as quickly as we can.”
The housing division is spending $250,000 on the hotline and has raised more than $50,000 from mortgage lenders and industry groups. There are 25 housing counseling agencies participating. To reach the counseling agency in your area, call Colorado’s foreclosure hotline at 877-601-HOPE.
Posted by:
Jeffery McClintock
Categories:
Real Estate Market
Denver Front Range
Mortgages
