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Fraud occurs when one party misrepresents a fact and induces the other party to act based on bad information. Normally, when a person commits fraud they can be held liable to the person who relies on the bad information for damages incurred based on that reliance. This is not the case with banks … [Read more...]
What is a Deed in Lieu of Foreclosure? When a borrower is in default under a loan that is secured by real property and facing foreclosure, a borrower can avoid foreclosure by granting the lender a “Deed in Lieu of Foreclosure.” A deed in lieu of foreclosure is a deed that conveys the … [Read more...]
1. What is a short sale? In Colorado, there are many loans secured by real property that are underwater (i.e., the borrower owes more to the lender than the property securing the loan is worth). A short sale allows a borrower to sell the property to a third party for less than what is owed to the … [Read more...]