80916 residents targeted for foreclosure help
Published April 22, 2008 by CSBJ Staff
The Colorado Housing and Finance Authority is reaching out to those facing foreclosure who haven’t yet sought help, namely homeowners within the 80916 ZIP code.
The neighborhood, east of Academy Boulevard and adjacent to Peterson Air Force Base is home to more than 35,000 residents and 12,200 homes.
Eight other ZIP codes in Aurora, Denver, Greeley and Parker have also been identified as areas where homeowners have not responded to CHFA’s offers of loan or credit assistance.
Even Gov. Bill Ritter has gotten involved in an effort to assist the 11,633 homeowners facing foreclosure statewide, declaring this week Foreclosure Prevention Awareness Week.
CHFA has received $1.5 million in federal funding from the National Foreclosure Mitigation Counseling Program. As much as $300,000 of that will be used to reach out to borrowers in distress through mailings and other advertising.
City-data.com lists the median home sales price in 80916 during the fourth quarter of 2007 as slightly more than $125,000. The median income of residents in the area is about $42,000. About one-quarter of the area’s homeowners have a second mortgage.
Borrowers facing foreclosure can call 1-(877)-601-HOPE for help.
Filed under CSBJ Daily, Foreclosures
Interesting article, but I don’t understand why the residents havn’t gone after help if they need it.
So - does this imply that lots of homes are going into foreclosure in the 80916 zip code? (Out of the Colorado Springs foreclosures that are occurring.)
I think it does mean that a high number of homeowners in that ZIP code are at risk of foreclosure. I believe the CHFA sought out ZIP codes where incomes are lower than the local median and where loan payments are being missed.