The Importance of Acting Fast in a Foreclosure Action

When a foreclosure action starts, you have several rights—however—the cost of asserting those rights varies greatly. Every homeowner has a right to fight the foreclosure action in a Rule 120 hearing, which is a hearing before a judge. Every homeowner can also seek an injunction to stop the foreclosure process.

The benefit of a Rule 120 hearing is the lower costs (a few dollars) and attorney’s fees that are required in defending your rights. The downside is, however, that you must act quickly—your right to a Rule 120 hearing will be lost quickly after you are served with the notice of the hearing. Michael Robinson and I have experience in successfully defending homeowners in Rule 120 actions. (See our article in the Douglas County News-Press, “The Foreclosure Fight is On” at http://www.dcnewspress.com/site/tab11.cfm?newsid=19790666&BRD=2713&PAG=461&dept_id=559196&rfi=6)

An injunction allows a homeowner to raise more defenses to the foreclosure action than in a Rule 120 hearing. Unfortunately, the homeowner must post a bond. Also, because the injunction is a full trial, attorney fees and court costs can be expensive. You have the right to fight the foreclosure process, but you must act. If you have any questions regarding the foreclosure process, please contact us to schedule a time to discuss your foreclosure problems. Bill Henry

"Fighting Back on Foreclosures" by YourHub.com

View the most recent article on our efforts to defend homeowners: http://denver.yourhub.com/CastleRock/Stories/News/Law/Story~488017.aspx

How the Foreclosure Process Starts: Notice of Election and Demand

In Colorado, the foreclosure process begins after the public trustee receives a “notice of election and demand” from the foreclosing party. The public trustee must file the notice with the clerk and recorder’s office within 10 days, where it will be recorded.

After the notice of election and demand is recorded, the public trustee will set a date when your home will be sold. Between the recording of the notice of election and demand and the sale date, you have various rights—but you must assert those rights or they will be lost. The process moves very quickly; once your property is sold, it is nearly impossible to get your home back.

It is imperative, therefore, that you speak with your attorney when you receive notice that your home is being foreclosed upon. An attorney that understands the foreclosure process can help you determine the best course of action for your particular situation and defend you. Bill Henry

Bill & Mike are looking at new angles to block foreclosures

Bill Henry and I have been looking into whether we can use the awful "lack of notice" done by Adjustable Rate Lenders as a defense in court. We feel that this is appropriate in a regular district court setting, but may be more problematic in the normal Rule 120 setting. We hope to be able to crack this nut in the near future.

The issue is the language on the promissory note that says that LIBOR rates are used to determine the variable interest rate charged. This arcane index is actually the London InterBank Offering Rate. The notices in the docs a homeowner signs gives only a cursory explanation of LIBOR and then usually references the Wall Street Journal. I know of absolutely no instance where a homeowner brought a copy of the WSJ to a real estate closing and I know of absolutley no real estate closing where a copy of the WSJ was brought to the closing table. The Colorado Statute about this reads in part that a recognized defense occurs when the loan was made by " fraud that induced the obligor to sign the instrument with neither knowledge nor reasonable opportunity to learn of its character or its essential terms." C.R.S. 4-3-305. More later. Mike Robinson

"The Foreclosure Fight Is On" by The Douglas County News Press

See local Douglas County Colorado article in the Douglas County News Press about our efforts: http://www.dcnewspress.com/site/tab11.cfm?brd=2713&pag=460&dept_id=559196&nr=1&nostat=1

Homeowner Blocks His Foreclosure FOR 11 YEARS!!!

Take a look at this enlightening story.

http://blogs.wsj.com/law/2007/12/28/determined-homeowner-staves-off-foreclosure-for-11-years/trackback/

Fighting the Fight

June 19, 2008 was a big day for Colorado attorneys Michael A. Robinson and William L. Henry and for all Colorado homeowners who might be facing foreclosure. Read this local Douglas County, Colorado news article for further information: http://www.dcnewspress.com/site/index.cfm?newsid=19790745&BRD=2713&PAG=461&dept_id=559878&rfi=8

Mike and Bill's website for further information http://www.blockcoloradoforeclosure.com/

Hundreds Swept Up in Mortgage Fraud Arrests

The FBI and justice department are finally cracking down on mortgage fraud nationwide. Officials have identified 10 mortgage fraud hotspots which includes Colorado.
www.9news.com/news/world/article.aspx?storyid=94103&catid=347

Helping Homeowners Battle Foreclosure

Attorney Michael Robinson and Attorney W.L. Henry enjoy a moment with their happy client outside the Douglas County Justice Center after her foreclosure was dismissed by the court.