Monthly Archive: June 2012

Jun 17

Colorado Progressives Coalition to Fight Unfair Foreclosure

The Elected Officers of the El Paso County Democratic Party have teamed up with the Colorado Progressive Coalition and dozens of other community groups to fight to end unjust foreclosures. In 2006, the Colorado State Legislature sided with banks, making it easier for lenders to foreclose on Colorado home owners. The 2006 law says that banks are not required to provide proof of their ownership of the mortgage, and that an attorney for the lender only has to sign an affidavit asserting ownership. This has resulted in abuse and fraud. In many cases, banks do not have the original documents or know where they are, but the courts have been ruling in their favor.

The 5th Amendment of the U.S. Constitution states: “no person….shall be deprived of life, liberty, or property without due process of law.” Colorado home owners are in jeopardy until this law is repealed.