Denver Colorado fares better than nation in home resale prices
Colorado AG files complaint against mortgage firm.:
The Colorado attorney general’s consumer-protection unit has filed a complaint against a Colorado Springs-based mortgage company and its top employees, claiming they engaged in deceptive practices. According to the complaint, filed in Fremont County District Court, Alternative Lending loan originator April A. Bigler, 29, of Pueblo West regularly engaged in deceptive trade practices, including misrepresenting loans’ interest rates, quoting monthly mortgage payments to consumers that did not include taxes and insurance costs, and delaying closings to pressure consumers into signing a mortgage.
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Denver fares better than nation in home resale prices:
Denver-area home resale prices dropped in August year over year, but were down far less than the national average, according to a First American CoreLogic Inc. report released Thursday. According to First American’s LoanPerformance Home Price Index (HPI), metro Denver’s average home-resale price, including sales of distressed homes such as foreclosures and short sales, decreased 1.44 percent in August from the same month of 2008.
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Despite NAR’s Optimism Housing Data Not Encouraging:
“Existing-home sales bounced back strongly in September with first-time buyers driving much of the activity, marking five gains in the past six months,” the NAR said. The number of sales of foreclosed properties in September was 29%, near the level around 30% seen for the past several months. The current data is at a rate around 1.5 million foreclosed and distressed-home sales per year.
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Frascona: Carbon Monoxide detector rule doesn’t stink, but be careful:
There is no need to panic over carbon monoxide detector rules. Colorado state law requires that the monitors be in the property, but there is no prohibition upon the buyer and seller agreeing to sell without them being in the property. None. If you want to make sure that they are included then insert in additional provisions “Seller shall, in addition to all other personal property, insure that the Property includes working carbon monoxide detectors”.
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Shutdown of New Frontier Bank raises oversight concerns:
The fact that government regulators detected danger signs in Greeley-based New Frontier Bank’s financial practices years before they shut it down exposes broader issues about whether the oversight system is tough enough. In recent years, records show, government watchdog agencies have raised questions about whether federal regulators have intervened too late to save banks or stem their cleanup costs.
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